100% FDI in defence need of the hour: Venkaiah Naidu

Naidu said the new textile policy would bring in investment worth Rs 6000 crore and generate one crore jobs in the next three years.

Jaipur; Union minister M Venkaiah Naidu today stick up for the Modi government's decision to allow 100 per cent FDI in defence sector by easing norms, saying "FDI is better than debt" and it is the need of the hour.

"FDI is better than debt and will push growth and development. The government took the decision as it was the need of the hour," he said.

The minister, who was in the city to attend the party's state executive meeting, said "the pace of development in the country has accelerated under the leadership of Prime Minister Narendra Modi".

He also said the new textile policy would bring in investment worth Rs 6000 crore and generate one crore jobs in the next three years.

Naidu, who was recently elected to Rajya Sabha from Rajasthan, said that there was no cross voting in the party in the election to the Upper House.

Meanwhile, Rajasthan BJP president Ashok Parnami hailed the Vasundhara Raje government of efficiently launching schemes, saying in its two-and-a-half year tenure it has completed works more than that done by the Congress government in its five year rule.

He said benefits of the scheme and programmes by the Centre and the state government were reaching the beneficiaries.

"When the BJP government came to power in the state, financial position was poor but the CM's financial management improved the situation. Lot of developmental works has taken place in the BJP rule and the state is on the path of progress," Parnami told reporters after BJP state executive meeting.

Parnami claimed that the Raje government has fulfilled 72 per cent of the promises made in the election manifesto.

Apart from Naidu, Union ministers Nihal Chand, Sanwarmal Jaat, Rajyavardhan Singh, BJP in-charge of party affairs in Rajasthan V Satish, senior party leader Avinash Rai Khanna and others were also present in the meeting. 

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