Rediff.com » Business
Trinamool opposes govt decision to open up retail to FDI
Source: PTI November 25, 2011 12:26 IST
Key United Progressive Alliance ally Trinamool Congress on Friday opposed the government's decision to open up the retail sector to foreign direct investment, but insisted it was not breaking the norms of the ruling alliance by doing so.
"It is a coalition government and not the rule of a single party. We are opposing this decision but not breaking any norms of alliance. We have a right to protest such decisions," Minister of State for Health Sudip Bandopadhyay told reporters after leading a protest inside Parliament on the issue.
Maintaining that the party
would oppose the move 'when it comes to Parliament', he said Railway Minister Dinesh Trivedi 'has already registered his dissent in the Cabinet meeting yesterday'.
The Union Cabinet on Thursday decided to allow 51 per cent FDI in the retail sector.
Bandopadhyay, who was re-elected Leader of the party in Lok Sabha, said the move would adversely affect a cross-section of people like shopkeepers, farmers and transporters.
"Initially, the big bosses (multi-brand retailers) will buy goods and keep them in the godowns.
"After 3-4 years, they will dictate terms on our prices when they have sufficient stocks.
"They will also sell cheap India goods outside India," Bandopadhyay said.
Source:
PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
Recommended by Rediff.com
CBI books UP officials in NRHM scam
Govt doc in Kolkata suspended after found drunk on duty
FDI in Retail: The Dangers Ahead
Good news! Tatkal booking in one day
FDI in retail: Efforts on to take Mamata on board
© 2024 Rediff.com