CPM supports private investment: Karat

NEW DELHI: On the eve of the Left Front government’s 30th anniversary in West Bengal on Wednesday, CPM general secretary Prakash Karat attempted to demystify the Marxists’ secret formula for success.

Karat said the CPI (M) supported private investment for a strong industrial base, but asserted that the working class should be protected. He clarified that his party was never against private investment. Karat also said the Left Front governments in West Bengal, Kerala and Tripura have always defended and protected the public sector in key areas, apart from trying to expand public expenditure in the social sector if possible.

“The Left Front government has taken initiatives to invite private investment so that the state can have a strong industrial base and acquire high technology. It is also committed to people-oriented development where the poorer sections are provided the wherewithal to overcome povert,” he said.