New Delhi: Left parties today slammed the Indo-US nuclear deal saying it would entail "huge costs" for India and was a result of "mutual desperation" on both sides.

The statement made by President George Bush after signing the deal was "nothing but a device" to allay genuine fears over the deal, CPI(M) General secretary Prakash Karat told PTI.

Maintaining that there was a "wide gap" between the Indian and the US governments understanding of the deal, CPI leader D Raja said while Washington considered 123 agreement to be governed by the Hyde Act, the Atomic Energy Act and other American laws, New Delhi was of the view that only 123 agreement was binding.

The signing of the deal can be seen as a result of "mutual desperation," he said. "While Manmohan Singh (PM) wants to show some achievement at the fag end of his tenure, the Americans are desperate to help the military-industrial establishment at a time when US is passing through a mega financial crisis," Raja said.

Maintaining that American nuclear companies are waiting for the massive Indian market to open up for their revival, he said "they see the Congress-led UPA government helping them in this.

"Nobody knows what the economic cost of this deal will be for India. It will simply be huge...it will have very serious consequences for India and its future," Raja said.

He also said that it is finally the prerogative of the US to ensure uninterrupted fuel supplies for India. "We will have to see how far the Indian government has yielded to the US," he added.
Source : PTI