Calendar

May-2013
M T W T F S S
20 21 22 23 24 25 26
Economic Events
list No economic event today
Results
list No result today
IPO
list Issue Open : India Finsec
 

Despite Sharma’s claims, non-Congress states opposed to retail FDI

India Infoline News Service/ 19:09 , Jul 20, 2012

The government is keen on reviving the policy, but wants to leave it to the states to decide whether or not they want to implement it.

Even though Commerce Minister Anand Sharma claims that no state is opposed to Foreign Direct Investment in multi-brand retail, major non-Congress states have said that they are either against the move or are yet to decide whether or not they support it, reports said.

While Bihar is opposed to the move, the Shiromani Akali Dal-led government in Punjab has hinted at a reconsideration of its earlier stance of extending support. Meanwhile, Gujarat has not yet taken a decision on the policy.

The Commerce Minister has written to the chief ministers of several states seeking support for the policy.

Late last year, the government had to withdraw its decision on allowing 51% FDI in multi-brand retail after it was met with stiff resistance from opposition parties and allies alike.

The government is keen on reviving the policy, but wants to leave it to the states to decide whether or not they want to implement it, which implies that it may not wait for a broad consensus among parties.

Under fire for not being aggressive on the policy front, the government is now keen on taking some bold policy decisions, and announcements are likely after the Presidential poll results on Sunday.

 



Rate This Article Rate 1 Rate 2 Rate 3 Rate 4 Rate 5

Recent News Videos