December 2, 2011 12:25 PM

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Pranab asks allies, opponents to let states decide on retail FDI

In a clear message to allies and opponents, Finance Minister Pranab Mukherjee today asked them not to stand in the way of states wanting to implement Foreign Direct Investment, FDI, in retail.

He said, efforts are on to work out an acceptable motion to face a Parliamentary vote.

Speaking at the Hindustan Times Leadership Summit in New Delhi, the Finance Minister regretted that opposition's stand was hampering early implementation of a policy framework even though it was being done in a calibrated and sensitive manner.

Mr. Mukherjee's remarks assume significance in the context of a deadlock in Parliament on the FDI issue, with allies Trinamool Congress and DMK also voicing strong opposition to permitting foreign investment in multi-brand retail.

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