UP govt not in favour of FDI: Akhilesh | lucknow | Hindustan Times
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UP govt not in favour of FDI: Akhilesh

lucknow Updated: Sep 03, 2012 19:22 IST

Uttar Pradesh chief minister Akhilesh Yadav on Monday said his government was not in favour of Foreign Direct Investment (FDI) as it would cause loss to small traders.

Addressing a traders convention in Lucknow, Yadav said that until and unless there was advice of the traders, no such decision would be taken.

He claimed that it was the SP government which did not allowed imposition of Value Added Tax (VAT) in the state and also abolished octroi in a bid to facilitate the traders.

The chief minister said that decision which directly benefit the traders would be taken and the limit of accidental insurance would be increased upto four to five lakh.

Yadav said that by the first week of January 2013 submission of commercial tax and others works related to it would be made online so that traders wuld not be required to take rounds of the offices.

He added that harassment of traders would not be tolerated in any part of the state and stern action would be taken against those indulging in such type of activities.