Yechury suspects US influence over decision on FDI in retail
New Delhi, Dec 1 (ANI): Communist Party of India (Marxist) lawmaker Sitaram Yechury today said that is likely that the government took the decision to allow foreign direct investment in retail sector after being asked by the US to do so.
"The government is not answering on the issue of price rise, corruption or black money. They want to escape from that. So they have no answers to it. Also, if a discussion on the FDI takes place then I am sure the question would come up that what assurance did the prime minister give to Barack Obama in Bali?" said Yechury.
"Why did he instantly make this announcement as soon as he came back from there? And when has it happened before that the cabinet takes a decision and immediately the US embassy lauds it," he added.
Reiterating his party's position on the issue, Yechury said that they had been against foreign direct investment being allowed.
"We from the CPI-M opposed this opening up of the FDI in the retail sector from the day it was announced in the 2004-2005 budget. The first year of UPA 1 was a government, which was formed with the support of the left. That government's first budget speech announced that it wishes to open the retail sector for foreign direct investment. We had opposed it them and that opposition continues even today," he added.
The stalemate in parliament primarily over objections to allowing FDI in multi brand retail, besides other issues, continued for the eighth day on Thursday, leading to both Houses being adjourned till Friday.
Last Thursday, the Cabinet approved 51 percent FDI in multi- brand retail, As per this move, many global retailers like Wal-Mart, Carrefour and Tesco can open outlets in India.
But the new policy, seen as one of the most important government economic reforms in years, may commit supermarkets to strict local sourcing requirements and minimum investment levels aimed at protecting jobs. (ANI)
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