FDI in multi-brand retail unacceptable: BJP

Convener of the Bharatiya Janata Party’s traders cell, Umesh Khandelwal condemned the decision of the Centre to allow 51 per cent Foreign Direct Investment (FDI) in multi-brand retail.

Calling it a disastrous decision, he said it would hurt millions of Indians and alleged that this had been done to divert the attention from the coal scandal.

The Government is acting in the interest of the corporates  and  the foreign investors. This move of the Centre will be fatal for small and marginal traders and farmers.  

 Khandelwal said that Prime Minister Manmohan Singh’s government has ignored calls from other political parties on the issue of FDI in airlines as well as divesting stake in major state-run industries.

 The hurried announcement has been made without consulting other political parties. Even the allies in the UPA are against this decision and also against the steep hike in the diesel price.

 Khandelwal said the interests of the majority cannot be ignored and the BJP will launch a nationwide campaign to oppose this.

The party will fight this decision tooth and nail, he added.

CM to Take a Call on FDI

Chief Minister Naveen Patnaik on Saturday said the State Government would examine whether to allow Foreign Direct Investment (FDI) in multi-brand retail in Odisha or not.

 “The Centre has left it to the State Governments. Therefore, we will examine it carefully,” Naveen told mediapersons here. “We will do whatever is best for Odisha and its people,” he said.

 The Chief Minister’s reaction came a day after the Union Cabinet approved 51 per cent FDI in multi-brand retail.