December 5, 2012 12:20 PM

printer

Voting on FDI in multi-brand retail trade in LS today

The Opposition yesterday made a strong plea to immediately withdraw the proposal to allow 51 per cent Foreign Direct investment, FDI in multi-brand retail. The Government, however, justified the proposal, saying that states are not bound to implement it.
Initiating a discussion on FDI retail in the Lok Sabha, under rule 184 which entails voting, leader of the Opposition Sushma Swaraj charged the government with not consulting all stake holders despite assurance to Parliament. Citing international examples of other countries, Mrs. Swaraj alleged that the decision will create massive unemployment and may harm the interest of small farmers and business people.

Strongly defending the government decision, Information Technology and Communication Minister Kapil Sibal emphasised that apart from creating employment, FDI in retail will help boost the medium and small industries in creating jobs.

Samajwadi party leader Mulayam Singh Yadav said, FDI in retail is not in national interest.
Dhara Singh Chauhan of BSP said, no hasty decision will be useful. He indicated that his party will take an appropriate decision on the issue when it comes up for voting on Wednesday.

T.K.S.Elangovan of DMK said, although his party is opposed to FDI, it will not vote against the move.

Basudeb Acharya of CPIM said, FDI in retail will only add to unemployment.
The discussion will continue on Wednesday.

Most Read
View All arrow-right

No posts found.