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Modi rule worsens economic condition: CPI-M

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  9 Jun 2015 12:00 AM GMT

New Delhi, June 8: In the one year rendra Modi has been the prime minister, all the three sectors of the economy - industry, agriculture and services - “are in a deep crisis”, the CPI-M said on Monday. And contrary to the BJP’s claims, the livelihood conditions of the vast majority of the Indian people were actually declining, the Communist Party of India-Marxist said in a statement. It said the massive hikes in the prices of petroleum products in the background of the fall in the intertiol price of crude oil was leading to all-round inflation, particularly of food items. The statement, issued after a meeting of the party’s central committee on June 6-7, said the government’s claims of economic turround since Modi took power in May 2014 were false. It said both investment and consumer demand had stagted, worsening the unemployment situation. “Notwithstanding the hype of 'Make in India’, foreign investment both in the equity markets and direct production has declined,” it said, adding that the agrarian distress has continued to deepen. (IANS)

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