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HindustanTimes Thu,21 Aug 2014

Govt too clever by half, says Left

HT Correspondent, Hindustan Times  New Delhi, December 05, 2012
First Published: 00:17 IST(5/12/2012) | Last Updated: 00:27 IST(5/12/2012)

The Left parties said that the government's move to club the voting in Parliament on FDI in retail and the RBI amendments to FEMA on the same issue "highly irregular." 

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They said the government is "too clever by half" as even after the vote on the discussion on FDI in retail, members can press for vote on FEMA amendments.

“The Foreign Exchange Management Act (FEMA) clearly lays down that any amendment to its regulations has to be approved by both Houses of Parliament separately. The Act also states that this approval can be done within 30 days after tabling of the amendments ….This is legally mandated” CPM politburo member Sitaram Yechury said.

Though discussion on FDI in multi-brand retail and the RBI's amendments to FEMA to allow foreign investment in the sector can be held simultaneously, voting on the two matters have to be done separately, Yechury repeated.

Any move to club voting on the two matters would "not

only be highly irregular but also contrary to the law," Yechury said.

“Government or parliamentary affairs minister cannot take away a member's right to bring an amendment to during the FEMA discussions,” CPI leader Gurudas Dasgupta said.

The senior CPI(M) leader also said his party would not only move amendments to the RBI amendments to FEMA, but could also seek the annulment of the notification allowing FDI in multi-brand retail.

"There are so many options", Yechury said. The government is yet to table the RBI amendments in the Upper House, but has done so in Lok Sabha.


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