The government on Friday said it has not yet taken any decision regarding the Foreign Direct Investment in the multi brand retail sector. Responding to a calling attention motion by Gurudas Das Gupta of CPI, the Finance Minister Pranab Mukherjee said, that this is a complex issue and needs broader consensus. He said, the States will have to be involved before any decision can be taken on the issue. The Finance Minister said over 33 million people are involved in the retail trade in the country. Expressing concern over the reports of opening the multi brand retail sector to foreign direct investment Mr. Gurudas Dasgupta said that this will create unequal competition. He strongly pleaded to strengthen the small retailers by giving them better excess to loans and other facilities. In another calling attention by former Prime Minister H.D. Devegowda, the Minister of State for Agriculture Arun Yadav gave the House, the details of the measures taken by the Centre to deal with the problems faced by the farmers in Chickmaglur district of Karnataka.
News On AIR | March 25, 2011 2:08 PM
Decision regarding FDI in ‘multi brand retail’ needs broader consensus with States: Pranab