New Delhi, Sept. 2: The comrades are refusing to blink.

When the United Progressive Alliance-Left co-ordination committee met last month, finance minister P. Chidambaram tried hard to convince the Left leaders of the need to increase the ceiling on foreign direct investment in telecom, insurance and civil aviation.

Today, senior Left leaders again urged the government to rethink its position, making it clear that Chidambaram’s arguments had not cut any ice with them.

For the moment, the CPM’s focus is solely on the telecom sector as the government can introduce 74 per cent FDI in this sector with the consent of the cabinet and without the approval of Parliament.

The Left is not so bothered about civil aviation. It says the FDI increase in this sector is “minor” — from 40 to 49 per cent. In the case of insurance, the government will have to amend the Insurance Regulatory Authority Act to increase the FDI limit from 26 to 49 per cent. This, however, is impossible at the moment as both the Left and the BJP will oppose it in Parliament.

“We are told the government is preparing papers to allow 74 per cent FDI in telecommunication. We have prepared a note which is being circulated to state our reasons for opposition,” said politburo member Prakash Karat.