new delhi deprecating governments decision to ease fdi in 15 key sectors left parties today demanded that prime minister narendra modi roll back the license to loot and focus on providing relief to people from escalating price rise and agrarian crisis the parties questioned government over timing of the reforms announcement made ahead of the prime ministers tour of uk g29 summit in turkey and visits to asean countries slamming modi for taking the decision without seeking cabinets approval which they said was complete travesty of system of parliamentary democracy this license to loot for foreign investors comes at a time when majority of indian people continue to groan under newer economic burdens price rise of essential commodities continues unabated agrarian distress is deepening the politburo calls upon modi and his government to focus attention on providing relief to vast majority of our people as promised during the election cpim said in a statement the left party said both indias markets and resources are being opened up further for maximization of profits for foreign capital earlier on tuesday when the reforms were declared party general secretary sitaram yechury had accused modi of helping foreign players gain greater access to indian markets and command over the countrys resources for profits with the global economic crisis foreign players are looking for greater market access and command over indian resources to maintain its profits pm modi is helping achieve that objective instead providing people relief from growing prices and agricultural distress yechury had charged the cpi echoed similar views saying multinational companies are demanding more taking advantage of alleged weakness of governments anxiety for fdi these policies will damage livelihood of our workers increase unemployment make the country more dependent on the west and hence should be rolled back it insisted pushing ahead with major reforms the government on tuesday relaxed foreign investment rules in 15 sectors such as civil aviation banking defence retail and news broadcasting and eased the process for approval of fdi the left parties have also raised questions over relaxed conditions for fdi in defence sector singlebrand retail and allowing 100 per cent fdi under automatic route in dutyfree shops and limited liability partnerships llps government has also scaled up the fipbs monetary limit to rs 5000 crore from rs 3000 crore for approving fdi proposals pti published on nov 12 2015 at 0746 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app asean narendra modi fdi retail sitaram yechury homenewsindustryroll back