NDA prepared Cabinet note proposing 100% FDI in retail, says Sharma

Seeking to punch holes in BJP's opposition to allowing Foreign Direct Investment in multi-brand retail, Union Commerce Minister Anand Sharma today said the NDA government had readied a Cabinet note favouring 100 percent FDI in the sector.

hidden October 01, 2012 15:48:31 IST
NDA prepared Cabinet note proposing 100% FDI in retail, says Sharma

Seeking to punch holes in BJP's opposition to allowing Foreign Direct Investment in multi-brand retail, Union Commerce Minister Anand Sharma today said the NDA government had readied a Cabinet note favouring 100 percent FDI in the sector.

Addressing a gathering of Congress supporters Sharma lambasted the BJP for trying to "mislead" the country on the issue and asserted that UPA government had taken the decision with "conviction" and "clarity" and there will not be any rethink on it.

NDA prepared Cabinet note proposing 100 FDI in retail says Sharma

Reuters

"When it (BJP) was in power, a cabinet note was prepared. I had urged repeatedly that let the Parliament function. I would have tabled the Cabinet note seeking to allow 100 percent FDI in retail," Sharma said, attacking the BJP on the issue.

To counter the opposition parties, the Congress will organise a "big rally" at Ramlila Maidan here on October 28 which will be addressed by Prime Minister Manmohan Singh, party president Sonia Gandhi besides other senior leaders.

Sharma said government has taken the decision to allow 51 percent FDI in multi-brand retail considering the economic fundamentals and ground realities of the country and BJP's opposition to it reflected the party's "hollowness".

"We have framed the policy considering the ground realities and the social and economic disparities in the country," he said adding, it is people of India who have approved the policy and it has not been brought in under the influence of any other country.

Sharma was addressing a gathering at Chief Minister Sheila Dikshit's residence, which was organised to educate party workers on the issue.

PTI

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