IMF should not guide India: AB Bardhan

RANCHI: Opposing foreign investments in the country, the CPI today asked why India should be guided by the IMF at a time when majority of its population were 'underfed' in the backdrop of IMF lowering the country's economic growth forecast for 2012-2013.

"I don't think that we should be guided by the IMF," veteran CPI leader A B Bardhan said at a press conference here.

He was reacting on the IMF latest report lowering India's economic growth forecast by 1 per cent to 5-6 per cent for 2012-13 because of deteriorating business sentiment and stalled investment due to governance issues.

When asked if the opposition continued to protest foreign investments how could the nation improve upon its growth rate at a time when the world is facing slow down, Bardhan said, "We should be guided by our own national interests."

The left had been opposing the FDI in the country ever since 1991, Bardhan said adding even now it was the left parties who were truly opposed to any FDI in the retail sector.

Commenting on IMF's latest World Economic Outlook report, another CPI leader Atul Kumar Anjan said, "When the growth rate was 3/4 per cent we had not been guided by the IMF. Now when it's 8 per cent half of the population is unfed."

The two senior left leaders also claimed that both Trinamool Congress and BJP had been supporters of FDI and that these were on record.