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FDI hampers welfare of working classes

FDI hampers welfare of working classes
Highlights

Foreign Direct Investment (FDI) in any form is directly against the welfare and interests of the working classes and that should be rejected by all means. The erstwhile Congress led UPA Government wanted FDI to be implemented in a phased manner and the Modi’s government wants to implement the same in a wholesale manner.

Foreign Direct Investment (FDI) in any form is directly against the welfare and interests of the working classes and that should be rejected by all means. The erstwhile Congress led UPA Government wanted FDI to be implemented in a phased manner and the Modi’s government wants to implement the same in a wholesale manner. There is not much of a difference in their policies,” civil liberties leader Prof. G Haragopal opined.

He addressed a meeting organised by the South Central Railway Mazdoor Union in their office premises on Wednesday. The professor rebuked the rail ministry’s decision to allow 100 per cent FDI for developing infrastructure and improving safety features in the railways to tide over the severe cash crunch the public sector behemoth was facing.

Prof.G Haragopal addressing the gathering

Haragopal added, “We are against Foreign Direct Investment (FDI) in railways, defence and insurance sectors. We appeal to the leaders to conduct seminars to improve awareness among people on the fallout of 100 per cent FDI proposed in the railways and pointed out that 49 per cent each was proposed in the defence and insurance sectors.”

Ch Shankar Rao, president of the Union, said, “The Centre wishes to introduce bullet trains in the country between Mumbai and Ahmedabad. The project would cost an estimated Rs 30 lakh crore. With so much money, all the ongoing projects in the country can be completed. The Railway Budget, which will be presented in the Parliament on February 26, should shift its focus from bullet trains. ” The meeting was attended by general secretary Sreenivas, Udaya Bhaskar, Siva Kumar, Arundhathi and other members of the union.

By:Ch Saibaba

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