The Telegraph
Since 1st March, 1999
Email This Page
Left smells rightwing conspiracy

New Delhi, May 17: Left leaders today accused the BJP of deliberately “destabilising” the stock market to discredit them.

“The BJP has taken a belligerent stand both politically and economically,” said CPM politburo member Sitaram Yechury. “It is unleashing such ploys even before the new government has fallen in place.”

“I wish to say this is a deliberate attempt on the part of the rightist forces to create a scare,” said CPI general secretary A.B. Bardhan.

Earlier in the day, senior BJP leader Arun Jaitley had said at a news conference that the Left’s “outlandish” economic proposals led to the stock market crash. The Left hit back, asking former disinvestment minister Arun Shourie to reveal the names of those manipulating the stock market.

“Arun Jaitley’s outrageous comments only show the party’s desperation to deflect attention from the real issues,” Yechury said.

“Arun Shourie earlier said he knows who are responsible for the stock market crash. He should reveal the names of the manipulators and share the information with the people,” Yechury added.

Last week, the market had crashed after Left leaders spoke out against unbridled divestment and demanded disbanding of the disinvestment ministry. At least so believed the stock market pundits.

Even then the Left had alleged that manipulators were at work.

Senior Left leaders expressed concern over such volatile swings in the stock market.

“But we have to ask why is there such a high degree of volatility,” said Yechury, again indicating that the crash was the result of manipulations.

The BJP is at pains to project the Left parties as the “trouble makers” with no constructive proposals to take forward the economic reforms. The Left, on its part, has said it will discuss with the Congress the fractious issues — divestment, subsidies, power tariffs and land reforms — that would figure in a common minimum programme.

The Left wants to scrap the divestment ministry. It says divestment can be handled by the finance ministry and there is no need for a separate ministry.

On subsidies, the Left wants an increase in subsidies in agriculture. In the power sector it says power should be given free or at lower rates to poor farmers wherever possible.

Email This Page