FDI in retail: Govt is being suicidal, says Nitish

Last Updated: Saturday, September 15, 2012 - 11:31

Patna: Bihar Chief Minister Nitish Kumar has hit out at the Congress-led UPA government`s move to allow 51 percent Foreign Direct Investment (FDI) in multi-brand retail, describing the step as ``suicidal``.

"The UPA government has allowed 51 per cent FDI in multi-brand retail inspite of strong objection raised by the state government earlier. It is a suicidal decision," Kumar told media.

"They have taken decision on the FDI despite states`` opposition. It seems that government is on its way out and it is taking self-destructive decisions," he added.
The Union Cabinet on Friday decided to operationalise 51 percent FDI in multi-brand retail, but left it to the state governments to allow setting up of such stores.

The decision in this regard was taken at a meeting headed by Prime Minister Dr. Manmohan Singh here on Friday evening.

The government had in November last year approved 51 percent FDI in multi-brand. This was, however, put on hold due to political opposition, including from UPA constituent Trinamool Congress.

ANI



First Published: Saturday, September 15, 2012 - 11:31
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