"In his first Independence Day speech, Prime Minister spoke of making India an industrial hub by declaring 'Made in India' as our motto. In US, he spoke repeatedly of 'Make in India'.

"The former is propagated declaring the strengthening of India's domestic industrial base, while the latter is an open invitation to foreign investments, particularly US investments. Their main objective always remains profit maximization and not augmenting India's productive capacities," senior CPI(M) leader Sitaram Yechury said.

India appears to be getting ready for further economic liberalization by opening of its markets, resources and cheap labour "for profit maximisation. This is the surest recipe for imposing further hardships on the Indian people," he said.

The "deadly cocktail" of imposing greater economic burden on the people and sharpening communal polarisation "continues to be intensified under this Modi-led NDA government," Yechury said in an editorial in the latest issue of CPI(M) organ 'People's Democracy'.

Observing that "much was being made about a fleeting decline in the Wholesale Price Index," he said the "elementary fact is that as far as the common man is concerned, what matters to his daily existence is the Consumer Price Index, which always is exponentially higher than the WPI."

Further, he said a fall in the inflation rate "does not mean a fall in the prices. What it means is that the rate of rise in the prices is lower than what it was. Prices are nevertheless rising."

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