BJP, CPI oppose decision on FDI in multi-brand retail | business | Hindustan Times
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BJP, CPI oppose decision on FDI in multi-brand retail

business Updated: Sep 14, 2012 19:32 IST

IANS
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The Bharatiya Janata Party and the Communist Party of India on Friday slammed the government's decision to allow 51% foreign direct investment (FDI) in multi-brand retail, saying it will adversely affect livelihood of people.

BJP leader Balbir Punj said the government had taken the decision to divert attention from the 'coalgate scam'.

He said Prime Minister Manmohan Singh had gone back on his word that FDI in multi-brand retail will only be allowed after political consensus.

"Prime minister has gone back on his word. We are totally opposed to it. We fill fight it tooth and nail," Punj told a news channel.

He said the decision will affect livelihood of millions of people in retail trade.

CPI leader D Raja said the government was trying to hand over economy to private sector.

"The government is neck deep in corruption. It is now trying to hand over economy to private sector," he said.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh, on Friday decided to allow up to 51% foreign direct investment (FDI) in multi-brand retail.