rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » FDI in retail: No rollback, says govt; deadlock on

FDI in retail: No rollback, says govt; deadlock on

Last updated on: December 1, 2011 15:21 IST

FDI in retail: No rollback, says govt; deadlock on

     Next

Next

Ruling out any rollback of the policy to allow foreign investment in multi-brand retail in the country, the government on Thursday said it would issue the guidelines in due course.

"The rules will be framed which answer the issues raised and decisions taken in the Cabinet," Secretary of the Department of Industrial Policy and Promotion (DIPP) P K Chaudhery said.

Asked whether the government will again invite public comments before formulating and announcing the rules governing the FDI policy, Chaudhery said there was no such move.

"If my answer to you was yes, that means I am conceding that we will revisit the policy, no," he said.

Chaudhery said his department did not write directly to the state governments while the policy was being formulated.

Click NEXT to read on . . .


Photographs: Reuters
     Next

FDI in retail: No rollback, says govt; deadlock on

Prev     Next
Prev

Next

He said the states were consulted when the issue was debated by the Standing Committee of Parliament attached to the Union commerce ministry.

In addition, the proposal in the form of a discussion paper was on its official website and the states were free to respond, he said.

Fifty-one per cent foreign direct investment (FDI) in multi-brand retail and removal of the 51 per cent cap in single-brand retail were approved by the Cabinet on November 24.

"Guidelines on FDI in multi-brand retail are not to be put on hold... (it is) work in progress," Chaudhery said without indicating any timeline.

The government's decision to permit FDI in multi-brand retail has created political turmoil, disrupting functioning of Parliament and leading to traders' protests.

Click NEXT to read on . . .


Photographs: Reuters
Prev     Next

FDI in retail: No rollback, says govt; deadlock on

Prev     Next
Prev

Next

Parliament was adjourned till Friday after uproar over FDI in retail sector and several other issues.

Sharma to brief Cong MPs; blasts Opposition

With voices of opposition to FDI in retail growing louder in Congress, Commerce and Industry Minister Anand Sharma will brief the party MPs tomorrow on reasons behind the decision and the benefits it will accrue.

"It (the briefing) is tomorrow (Friday) morning," Sharma told PTI when asked about the briefing he was expected to give to the Congress Parliamentary Party (CPP).

Finance Minister Pranab Mukherjee briefly spoke about the FDI decision to CPP on Wednesday and told the MPs that Sharma would give a detailed briefing to them.

The briefing by Sharma, whose ministry proposal was approved the Cabinet last week, was expected on Thursday, but did not take place.

Click NEXT to read on . . .


Image: Commerce and Industry Minister Anand Sharma.
Photographs: Reuters
Prev     Next

FDI in retail: No rollback, says govt; deadlock on

Prev     Next
Prev

Next

The briefing by these ministers to the party MPs assumes significance as voices of opposition to the decision have grown louder. At least three Congress MPs - Ramesh Chenithala, Sanjay Singh and Praveen Aron - have spoken against it publicly, while a number of others are also believed to be unhappy.

On the Opposition stalling Parliament on the issue, Sharma hit out at them, terming it as "obstructionist opportunist". He asserted that the Opposition could not dictate the government on executive policy decisions as also the language of the adjournment motion, under which discussion is demanded in Parliament.

Sharma said, "This is obstructionist opportunist opposition and what can you expect? They (Opposition) have not agreed to the language of the adjournment motion. They cannot dictate government on the executive policy decision...rollback...who are you?"

He said the government was ready to discuss the issue under the format 'situation arising out of the Cabinet decision on this (FDI in retail)' and the Opposition parties can air their apprehensions.

Trinamool insists on rollback

Facing a logjam in Parliament, Prime Minister Manmohan Singh on Thursday stepped-up efforts to bring UPA allies on-board on the issue of FDI in retail but key partner Trinamool Congress insisted on rollback of the controversial decision.

Click NEXT to read on . . .


Image: TMC chief and West Bengal Chief Minister Mamata Banerjee.
Photographs: Reuters
Prev     Next

FDI in retail: No rollback, says govt; deadlock on

Prev     Next
Prev

Next

"Our stand remains the same. We want discussion," Trinamool Congress leader Sudip Bandopadhyaya told reporters after a meeting with the prime minister.

Representatives of DMK and National Conference were also present at the meeting called in the wake of opposition demands for an adjournment motion on the issue that has paralysed Parliament for the last five days.

In the Lok Sabha too, Trinamool Congress was aggressive on the issue with some of its members, including Kakoli Ghosh Dastidar, storming the Well and raising slogans "FDI hai, hai (FDI down, down)".

BJP too wants FDI rollback

The Bharatiya Janata Party on Thursday remained adamant on its demand for rollback of FDI in retail sector and it leaders held a series of meetings to chalk out further strategy on the issue.

L K Advani and other BJP leaders met before the start of Parliament and decided that the government should either rollback the FDI decision or else it will move an adjournment motion on the issue.

Click NEXT to read on . . .


Photographs: Reuters
Prev     Next

FDI in retail: No rollback, says govt; deadlock on

Prev     Next
Prev

Next

It was also decided at the meeting that party leader Murli Manohar Joshi would move the adjournment motion in Lok Sabha, as there was no sign of the government withdrawing the FDI move.

Advani and Sushma Swaraj, Leader of the Opposition in Lok Sabha, said that the government has not reached out to them on the issue of running Parliament smoothly.

"We have not heard from anyone. We have no information," the two leaders said.

Besides Advani and Swaraj, others who attended the meeting were Arun Jaitley, Leader of the Opposition in Rajya Sabha, the party's deputy leaders in the two Houses, Gopinath Munde and S S Ahluwalia, former presidents Rajnath Singh and Joshi and its chief whip in Lok Sabha Ramesh Bais.

BJP leaders later again met, along with ally and JD(U) leader Sharad Yadav, after both the Houses adjourned for the day to chalk out NDA's further strategy over the logjam.

Click NEXT to read on . . .


Photographs: Reuters
Prev     Next

FDI in retail: No rollback, says govt; deadlock on

Prev     More
Prev

More

DMK presses for discussion in Parliament

Key UPA constituent DMK too pressed for a discussion in Parliament on allowing FDI in retail sector, but refused to specify the format under which it wants the debate.

"DMK wants a discussion on FDI in retail in Parliament," party MP T Siva told reporters.

"DMK has not changed its stand. We have said in the all-party meeting also. There is no change in our stand," said the MP whose party has joined the opposition in protesting against the FDI decision.

Asked about DMK's view on the language of the adjournment motion under which the opposition is demanding a discussion, Siva said the working "does not matter now".


Photographs: Reuters
Prev     More
© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.