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BJP to oppose hike in FDI caps

Last updated on: July 14, 2004 13:25 IST

Apparently under pressure from Sangh Parivar and its NDA allies, Bharatiya Janata Party on Wednesday said it would oppose the hike in sectoral caps for foreign direct investment in insurance, civil aviation and telecom announced by the United Progressive Allinace government.

"Hum virodh karenge (we will oppose it)", former Prime Minister Atal Bihari Vajpayee told reporters in New Delhi after a meeting of NDA leaders convened to discuss the issue and developments related to the unilateral scrapping of all water sharing agreements by Punjab.

He was responding to a question on the party's stand on the issue.

On the Punjab issue, Vajpayee said it should be resolved peacefully and through "mutual cooperation", keeping national interests supreme.

The meeting was attended among others by Leader of Opposition L K Advani, NDA Convener George Fernandes, BJP Deputy Leader in Rajya Sabha Jaswant Singh and Akali Dal (Badal) leaders, including S S Dhindsa.

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