New Delhi, Oct 17 (ANI): Leaders of the Communist party of India-Marxist (CPI-M) met here today and discussed the global economic slowdown and its impact on India, which is engulfed by spiralling inflation.
Talking to reporters after meeting, CPI (M) leader, Sitaram Yechury said: "The CPI (M) leaders will formulate the first draft of the ideological resolution an later it will be discussed by the members of the politburo.
"The first draft of the ideological resolution will be discussed by the politburo. On the basis of that discussion it will be go the central committee and then the central committee will decide on the content of it. Most likely it will come back to the politburo for a final approval and then go back to central committee before being released," he added.
Yechury further said that all the nations of the world have faced the brunt of the global economic meltdown.
"It deals with the developments in the world, developments on India, deals with think the CPI-M should currently be engaged in," said Yechury.
In the meeting, the leaders discussed the steps that need to taken to effectively combat the economic slowdown as its impact is especially visible in the Euro zone and the United States of America.
The ongoing crisis, which is especially gripping the old continent presently, is causing panic amongst western countries forcing many of them to take recourse of austerity measures that would help to bail out their economies.
USA received the blow when it witnessed an all-time low in its recent credit ratings. (ANI)
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