The Polit Bureau of the Communist Party of India (Marxist) has  issued the following statement:

The  UPA government has decided to raise the cap for foreign direct investment in  the insurance sector from the current 26 per cent to 49 per cent. The Cabinet  has also decided to allow 49 per cent FDI in pension funds. These measures  announced by the Union Cabinet will make India’s finance sector more vulnerable  to speculative finance capital.

The  decision to allow FDI in pension funds will jeopardize the savings of millions  of employees in the country.

The  Polit Bureau appeals to the people to oppose these anti-people measures. The PB  also appeals to political parties to defeat these measures when they are brought  before parliament.