RSS-backed BMS slams fourth tranche financial package; says reforms ‘against national interest’

RSS affiliated trade union BMS, which had welcomed the three tranches of financial packages, came down heavily against its fourth instalment announced by Finance Minister Nirmala Sitharaman here on Saturday. The trade union urged the Centre to find out novel ways to revive the economy and not to depend on the failed ideas of profit motives and exploitation.

BMS general secretary Virjesh Upadhyay said the fourth day of announcements of the Finance Minister is a sad day for the nation and its people, who were "on a euphoria" hearing the first three days announcements. He questioned the Centre's stand that on privatisation of sectors such as coal, minerals, defence production, airspace management, airports, power distribution, space and atomic Energy. He said such a stand is a show of dearth of ideas on economic revival in times of crisis. “The impact of every change first falls adversely on employees. For employees, privatisation means job loss, , profiting and exploitation will become the rule. Without any social dialogue, the government is bringing gross changes. Social dialogue is fundamental to democracy. Government becoming shy of consultation and dialogue with trade unions, social representatives and stakeholders shows lack of confidence in their own ideas and is highly condemnable," Upadhyay said in a strongly worded statement.

He said the BMS is already in agitation on corporatisation and privatisation. “For our policymakers structural reforms and competition means privatisation. But we have recently experienced, in time of crisis private players and market were paralysed and public sector played the crucial role,” Upadhyay said.

Condemning the allocation of ₹50,000 crore for privatisation of coal, he said seamless mining, auctioning 500 mining blocks including bauxite and coal blocks, rationalising stamp duty for that purpose is against national interest. “Raising the FDI limit for the defence from 49 per cent to 74 per cent and corporatisation of ordinance factory board is objectionable. Putting six airports to auction for ₹13,000 crore and privatising power distribution companies in metro cities to facilitate large corporates is detrimental to India in the long run," he said.

The BMS general secretary said privatisation of space, ISRO, space exploration also will have serious consequences to national security. “Even atomic energy is being converted to PPP mode which is a major step towards privatisation. Corporatisation and PPP are the routes for privatisation," he said.