Millennium Post

FDI dominates Day One

FDI dominates Day One
With Delhi assembly taking up introduction of foreign direct investment (FDI) in retail trade as a short duration discussion on the first day of the winter session, it became evident that the Sheila Dikshit-led government was in no hurry to bring an enabling Act on the matter. Sources in the Congress party said the government was likely to bring an administrative notification to clear the decks.

Dikshit has already given suitable instructions to give final touches to an appropriate proposal. Sources said in case amendment in the APMC Act is required, the government would go ahead in this direction.

Initiating the discussion, leader of opposition VK Malhotra said bringing FDI in the country is an anti-national policy. Malhotra alleged that due to ‘lobbying’ of Wal-Mart, Central government is allowing FDI in multibrand retail, which will adversely affect small traders and demanded a review of the decision to implement it in Delhi.

Accusing the Delhi government of siding with the foreign retail giants, Malhotra said, ‘If we come to power,  there would be no Wal-Mart inside Delhi. Even in the US, farmers protested FDI, and when FDI was passed in our country, the US celebrated with a lot of zeal.’

Another BJP senior leader, Jagdish Mukhi, said, ‘FDI will lead to monopoly in food market.’

Replying on behalf of the Congress, parliamentary secretary to CM, Mukesh Sharma said implementation of FDI in retail trade suits ground realities of our country and BJP has always been opposing new initiatives.

Sharma said the government headed by Dikshit was the first to announce implementation of FDI in Delhi, since it will bring widespread progress and prosperity.

Congress MLAs Naseeb Singh, Hari Shankar Gupta and Shoaib Iqbal also took part in the discussion. Sharma also referred to a study conducted by World Bank, which states that in India, farmers are only getting one-third of their expenses as cost of their products. Replying to the discussion, Delhi Development Minister Raj Kumar Chauhan said the city government is firm on its commitment to implement FDI in Delhi and there is no question of going back.

According to Congress party, FDI would facilitate foreign investment amounting to Rs 25 million dollars in the first five years and it would help in developing large scale infrastructure development to ensure economic growth.

Meanwhile, Union Government is also bringing a ‘street vendor policy’ to protect interest of small traders and street vendors.
Dipanshu Roy

Dipanshu Roy

Our contributor helps bringing the latest updates to you


Share it
Top