FDI in retail: TMC sets 72-hour deadline for roll back

Government`s decision to allow FDI in multi brand retail on Friday evoked strong reactions from both Opposition and allies.

Zeenews Bureau

New Delhi: Government`s decision to allow FDI in multi brand retail on Friday evoked strong reactions from both Opposition and allies.

Reacting sharply to the decision, UPA constituent Trinamool Congress set a 72-hour deadline for the government for the roll back of the decision.

"We are giving a 72-hour deadline to roll back the decisions. We will discuss and take a tough stand at the TMC Parliamentary Party meeting on Tuesday if the government does not listen to us," TMC General Secretary and Railway minister Mukul Roy said.

Roy said the decision is harmful for the people of the country. “It will allow multi-brand firms to dictate their own terms.”

Govt under foreign pressure: BJP

BJP alleged that the decision of the government to allow FDI in retail was made under the pressure of "foreign forces".

" The government has seriously jeopardised the life, livelihood and employment of five crore people involved in retail trade in the country. BJP strongly condemns the decision," BJP Chief spokesperson Ravi Shankar Prasad said.

"Outsourcing from India remains a very contentious issue in America and Europe. The Manmohan Singh government has not been able to extract any firm commitment for India and yet has opened the floodgates to FDI in retail, which will be disastrous for the country," Prasad said.

BJP, however, declined comment on the decision allowing FDI in civil aviation.
SP opposes FDI in retail

Samajwadi Party, an outside supporter of the UPA also opposed the Centre`s decision to allow 51 per cent FDI in multi-brand retail.

"SP feels that allowing FDI in retail would affect Indian market and agriculture. The move would hit Indian economy as retailers and farmers would be ruined by it," SP spokesman Rajendra Chowdhury said.

He said the decision was not in the interest of country and warned that the party would organise protests.

Meanwhile BSP also criticised the move by saying, “It will provide to be a fatal for farmers and will make India a slave of multi-national companies.”

Left threatens wave of protests

CPI(M), CPI, RSP and Forward Bloc flayed the Cabinet decision on allowing FDI in retail, charging the UPA government as anti-people.

Senior CPI(M) leader Brinda Karat said, “The UPA government "cannot give any job but is snatching jobs. It is destroying the livelihood of people through so-called reform measures aimed at pleasing corporates."
"Their reform measures are only to suit the MNCs and it has nothing to do with India or its people. They only want to listen to the corporates. This government cannot create jobs, it cannot control prices”, she added.

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