New Delhi: Concerned over volatility in the stock market, CPI(M) today demanded re-introduction of long-term capital gains tax and review of the Double Taxation Avoidance Agreement (DTAA) with Mauritius.
It also warned the UPA Government, which it supports from outside, against going ahead with Capital Account Convertibility as it would "further imperil the stability of
our financial system".
Addressing a press conference, CPI(M) polit bureau member Sitaram Yechury said steps were also required to protect small investors in the stock market as they suffered the most from market meltdowns.
He said CPI(M) has "serious reservations" against the decision to join the US-backed Turkmenistan-Afghanistan-Pakistan (TAP) gas pipeline project, saying it was not in India's interest.
Besides, it would put the Iran-Pakistan-India gas pipeline project in the cold storage, he said.
Denying media reports that West Bengal Chief Minister Buddhadeb Bhattacharjee had written a letter to the Civil Aviation Minister for modernisation of the airport at Kolkata, he said no such letter had been sent.
He, however, clarified that CPI(M) was not opposed to modernisation. It objected to privatisation.
Senior CPI(M) MP Basudeb Acharia, who was also present, said his party would oppose any further reduction in the EPF interest rate from the current 8.5 per cent.
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