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Rediff.com  » Business » Mamata slams Modi govt over FDI in defence, railways

Mamata slams Modi govt over FDI in defence, railways

August 07, 2014 20:14 IST

West Bengal Chief Minister Mamata Banerjee on Thursday criticised the Narendra Modi government over foreign direct investment in defence and railways, claiming a 49 per cent FDI cap in defence "will put a question mark" on the safety and security of the nation.

Pushing ahead with the reforms agenda, the Union government yesterday approved raising FDI limit in the defence sector to 49 per cent and fully opened up the railway infrastructure segment for foreign direct investment.

"The Union Cabinet has approved up to 100 per cent FDI in railways and up to 49 per cent in the defence sector. Increasing FDI cap from 26 per cent upto 49 in defence sector

will put a big question mark on safety and security of the nation," Banerjee said in a post on her official Facebook page.

Slamming the NDA government over the FDI in railways, Banerjee, a former railway minister, said, "When successive governments have been consciously avoiding FDI in railways sector for strategic and security reasons, the Central government has, for the first time, now allowed upto 100 per cent FDI in railways".

"I do not know what will be the fate and future of this country," Banerjee, the Trinamool Congress chief, said. 

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