The Hindu : National : CPI (M) assails customs duty cut

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Wednesday, Jan 24, 2007
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National

National

CPI (M) assails customs duty cut

Special Correspondent

NEW DELHI: Suggesting that the cut in customs duty announced by the Government would have an adverse impact on domestic producers and lead to unemployment, the Communist Party of India (Marxist) said the Government should take urgent steps to check the rise in prices of essential commodities.

Terming the move just a month ahead of the Union Budget as "improper," the CPI (M) Polit Bureau in a statement said: "Little seems to be learnt from the fact that similar cuts in import duty of wheat and pulses in the recent past have not succeeded in bringing down inflation."

Such cuts would adversely affect Government revenues, especially when the country and the people expected the United Progressive Alliance Government to increase social sector expenditure to honour the commitments made in the Common Minimum Programme.

The party reiterated that the Government should take urgent steps to check the rise in prices of essential commodities by taking recourse to the earlier suggested measures, such as banning forward/futures trading and reversing the decision to allow export of sugar.

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