A mum CPI(M) fuels speculation

NEW DELHI: Even as the CPI(M) took a “tough stand” against the New Pension Scheme (NPS) at the chief ministers’ meeting on Monday, the party remained silent on the government’s decision to invest five per cent pension funds in stocks, fuelling speculation that it has reached some tacit understanding with the Centre on an interim investment pattern for the contributions under the new pension scheme.

While West Bengal finance minister Asim K Dasgupta and his Kerala counterpart Issac Thomas made a strong pitch against the NPS at the meet, the party did not react to the government’s arbitrary decision. Party leaders said they have yet to study the interim investment pattern announced by finance minister P Chidambaram. On Tuesday also the party chose not to issue any official reaction even as its trade union wing, the CITU, reacted sharply calling it a “retrograde step”.

From the beginning the CITU, the CPI, RSP and Forward Bloc were unwilling to compromise on the NPS. PM Manmohan Singh was hoping that WB CM Buddhadeb Bhattacharjee would tame the hardliners in the CPI(M). Even as it took a hard stand against the NPS, the CPI(M) helped the government take a decision on interim investment by winking at the move.