RSS-linked bodies ask Centre to reconsider FDI, divestment decision

New Delhi: The Bharatiya Mazdoor Sangh (BMS) and Swadeshi Jagran Manch (SJM), which work in the economic sector affiliated with the Rashtriya Swayamsevak Sangh (RSS), have reacted cautiously to the General Budget presented by the Modi government.

Decisions such as boosting the economy by spending huge sum of money on basic resources in the country have been appreciated by the Sangh organisations, while raising concerns about the government's decision to increase foreign direct investment (FDI) and privatisation and disinvestment of public sector companies. The Sangh organisations demanded the government introspect over this decision.

BMS General Secretary Vinay Kumar Sinha has said, "Decisions like disinvestment of two public sector banks and an insurance company would reduce the attraction towards a scheme like the 'Aatmanirbhar Bharat'. In the National Executive Council meeting to be held in Chennai from February 12 to 14, the BMS would decide the future strategy on this budget presented by the central government."

The BMS has said special schemes for the tea gardens of West Bengal and Assam would benefit the migrant workers there. Many decisions taken by the central government are good but linking disinvestment and FDI with a beautiful idea like 'Aatmanirbhar Bharat' is disappointing. This would affect the interests of employees, it said.

Hiking the FDI limit from 49 per cent to 74 per cent by amending the Insurance Act would increase dependency on foreign countries. The central government should consider this decision, the BMS added.

On the other hand, Ashwani Mahajan, the national co-convener of SJM, told IANS, "The central government needs to reconsider the decision of disinvestment of Bharat Petroleum Corporation Limited (BPCL), Air India, Shipping Corporation of India, Container Corporation of India, Pawan Hans Limited, BEML and others. The announcements of privatisation of public sector banks and insurance companies are worrisome. The performance of these companies needs to be improved rather than them being privatised. Increasing FDI will establish foreign dominance over the insurance and economic sector of the country, this cannot be called a far-reaching step."