New Delhi, Oct 12 (IANS): The Bharatiya Mazdoor Sangh (BMS) Friday demanded a white paper on 21 years of economic reforms in India before further reforms are unleashed.

Hitting out at the government, BMS president Saji Narayanan said here that recent economic decisions taken by the government would only increase corruption.

Narayanan was speaking at a convention here on foreign investment in retail trade, insurance and pension founds.

"The recent policy of PPP (public private partnership) announced by the government will remove all existing inhibitions of the official machinery to move with private players," he said.

"It will legitimise the unholy alliance between the government and corporate sector and multinationals," he added.

The BMS leader said that many of the multinational companies waiting to enter the various sectors lacked a good track record.

"High-level corruption is on the rise among ministers, government officials and relatives of highly-placed political bosses," he said.

"As election is fast approaching and political parties are in need of huge election funds, corporate influence over the government and political parties are increasing.

"Disinvestment and FDI will be a secret source of election funding for political parties," he added. "The economic and labour policies of all political parties and governments (are similar)."

Narayanan said the government had not learnt the lessons from what happened to pensioners in the US and Europe when their pension funds were invested in private funds and stock market.

"It ended in social calamity from which their societies have not so far recovered."

He said that disinvestment was "outright sale of public property at throwaway price".

He asked the government to stop disinvestment of public sector firms, especially profit-making ones like NALCO, RINL, MMTC, IOC and NMDC.

"Hence, BMS wants the government to bring out a White Paper on the impact of 21 years of reforms in the country, before it takes reforms further."