December 2, 2012 11:41 AM

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FDI in retail: FEMA notification to be passed by only one Parl House, claims Kamal Nath

Parliamentary Affairs Minister Kamal Nath has claimed that FEMA notification dealing with FDI in retail has to be passed by only one House of Parliament, belying the Opposition stand that the decision cannot be implemented if it falls in Rajya Sabha, where UPA lacks majority. Speaking at TV programme, he however, accepted that FEMA notification – which can be passed in the budget session as well as the government has 30 working days of Parliament to get the nod – may drag into the next session which is three months away.

CPI-M leader Sitaram Yechury had last week said that as per rules, FEMA notification on allowing 51 per cent FDI in multi-brand retail has to be laid and passed in both Houses of Parliament. He said, failure to do so will be challenged in court. Mr Nath did not agree with this contention of the Opposition. He said anything can go to court and if it goes the government will deal with it.

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