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RSS-backed Bharatiya Mazdoor Sangh miffed with government on privatisation spree

Moneycontrol logo Moneycontrol 19-05-2020 Jocelyn Fernandes
a group of people standing in front of a crowd: RSS-backed Bharatiya Mazdoor Sangh miffed with government on privatisation spree © Reuters RSS-backed Bharatiya Mazdoor Sangh miffed with government on privatisation spree

The Rashtriya Swayamsevak Sangh-backed Bharatiya Mazdoor Sangh (BMS) has said it wants to discuss its objections to aspects of the Rs 20 lakh crore financial stimulus package with the government.

Adding that the union is not opposed to all of Centre’s announcements, CK Saji Narayanan, President of BMS, told The Economic Times that the first three tranches were welcome.

"The first three tranches announced by Finance Minister Nirmala Sitharaman were welcome as these showed a change in direction and contribute to the well-being of workers, farmers and small-scale industries," Narayanan said.

However, the union is opposed to changes part of the tranches four and five – specifically relating to the Public-Private Partnership model (PPP model) in the atomic energy space, increase in foreign direct investment (FDI) in the Defence sector up to 74 percent, labour reforms and opening up of the coal mining sector and privatisation of eight sectors, the report said.

Narayanan stated that the government is privatising eight sectors at a time when the method is "being debated as a panacea for economic maladies around the world".

Upadhyaya, Secretary General of BMS told the paper that “problems that caused the global financial crisis are being brought to India in the name of economic reforms. Privatisation and job loss, below quality jobs will be generated, profits and exploitation will be the rule."

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