JD(U) hits out at PM over FDI in insurance

Last Updated: Friday, October 5, 2012 - 17:14

New Delhi: JD-U on Friday targeted Prime Minister Manmohan Singh over the latest decision to allow 49 percent FDI in insurance sector but remained evasive on whether ally BJP will back its total opposition to the measure.

JD-U president Sharad Yadav came down heavily on the Centre for "going on an announcement spree" to bring foreign capital in the country and acridly remarked that Singh should "disinvest the central government also" to "complete the the disinvestment cycle"

He said the issue of FDI in insurance sector will be discussed in a meeting of the NDA.

"Efforts will be made to ensure that the entire Opposition takes an unanimous view on it. But the country has so much contradictions. It is difficult (to build consensus on all issues)," Yadav told reporters here.

BJP yesterday said while it was not opposed to more FDI in these areas (like insurance) certain caveats and conditions should be met to "safeguard the interest of the people". It remained ambivalent on whether it will support these measures in Parliament, saying it would first like to see "fine print".

Taking a jibe at Singh, Yadav said, "Prime Minister Manmohan Singh, why don`t you disinvest the central government also? Bring in 49 investment here. Bring in 49 percent ministers from abroad. This will complete the disinvestment cycle.

"One after another, decisions to bring in foreign capital are being announced. The Prime Minister is all out for market economy. Till a few days back, Congress leaders were saying that our economy was saved due to nationalisation of banks during the Indira Gandhi regime. Where is that logic now?

"They should remember what happened to the US economy during the recession due to excessive dependence on the market," he said.

PTI



First Published: Friday, October 5, 2012 - 17:14

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