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The Hindu
The Hindu
National
Special Correspondent

Andhra Pradesh: global economic crisis is the fallout of capitalism, says CPI(M) State secretary

Communist Party of India (Marxist) State secretary V Srinivasa Rao has described the book ‘The Communist Manifesto’, written by Karl Marx and Friedrich Engels, as a weapon in the hands of the working class.

He was speaking at the Red Book Day, organised at the party office at Maddilapalem here on Monday. He told the gathering that the book has completed 175 years as part of which, it was being read across the world to bring changes in society. The global economic crisis, which started in 2008, was the fallout of capitalism and there were increasing demands for bringing in socialism as an alternative. The book has been translated into all languages in the world.

Mr. Srinivasa Rao said that the capitalist has to reduce his profits and contribute to increase the buying power of consumers to help the world tide over the economic crisis. This crisis was continuing as the capitalists were not willing to share their profits with common people. He alleged that in India, public sector undertakings and public assets were being handed over to capitalists. He said that Karl Marx and Friedrich Engels had suggested in their book that socialism was the only way to change the world.

An exhibition of the photographs of communist leaders from across the world and their quotations were displayed on the occasion.

Party city secretary M. Jaggu Naidu presided over the programme.

CPI(M) State secretariat member Ch. Narasinga Rao, district secretary K. Lokanadham, city secretariat member R.K.S.V. Kumar and party leaders P. Mani, V. Krishna Rao, M. Subba Rao, RP Raju and V. Narendra Kumar were present.

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