The government today said that FDI in multi-brand retail trade will benefit the common people and small and marginal farmers in the country. Intervening during the discussion on an opposition motion against FDI in the Rajya Sabha today, Law minister Ashwani Kumar said it would transform the lives of farmers.
He said, the huge investments coming through FDI will add two per cent to the country's GDP. Mr Kumar said the government has taken this conscious decision to boost the country's economic growth. He emphasized that the decision will not be binding on any State and adequate safeguards to regulate FDI in retail will be in place.
Earlier, initiating the discussion on the motion disapproving the government's decision to allow FDI in the multi-brand retail sector, AIADMK leader V K Maitreyan said the government never consulted the State Chief Ministers on the issue. He wondered why the Walmart company is interested in setting up its stores only in 53 cities of the country.
Leader of Opposition Arun Jaitley said the country will have to pay a heavy price if FDI in retail is allowed. He said most parties are against the move and the government's victory in the Lok Sabha yesterday was because of the compromises it had to make with some of them.
BSP leader Ms. Mayawati announced that her party will oppose the motion against FDI and will go with the government in the division of vote. Participating in the discussion, she expressed the view that FDI in retail will not adversely impact the country's economy. She countered the allegations levelled against her party by the BJP during the discussion on FDI in the Lok Sabha yesterday.
CPIM leader Sitaram Yechury said contrary to the perception, jobs will not increase with the advent of FDI in the retail sector. He termed as myth that the farmers will get a better deal for their produce at the hands of the foreign investors. JD(U) leader N K Singh suggested the setting up of a national retail regulatory authority to protect the interest of farmers. He doubted the claims that FDI will bridge the financial deficit. Trinamool Congress leader Derek O Brien opposed the move.
Terming the government's decision to allow FDI in retail as politics of brazen opportunism, senior BJP leader M Venkiah Naidu said the UPA-2 has been reduced to minority after the withdrawal of support by Trinamool Congress. He said the government has no power to take policy decision on major issues.
The House witnessed noisy scenes with congress members objecting to some remarks by Mr Naidu and the Deputy Chairman Prof. P J Kurien adjourned the proceedings for ten minutes. Earlier, BSP members also protested against certain remarks by Mr Naidu.
Senior DMK leader Tiruchi Shiva, Samajwadi party member Naresh Agrawal, NCP member Y P Trivedi and BJD member Shashi Bhusan Behera participated in the debate during the motion. The debate is continuing.
