FDI test for UPA floor management
The FDI policy in multi-brand retail is set to test the UPA’s floor management skills in Parliament once again.Updated: Aug 07, 2013 00:28 IST
The FDI policy in multi-brand retail is set to test the UPA’s floor management skills in Parliament once again.
The Opposition has served notice seeking vote against the proposed amendments to the Foreign Exchange Management Act (FEMA) regulations. The FEMA amendments aim to permit entry of FDI in multi-brand retail.
If the government is defeated in this voting, it would not be able to implement its last year’s decision to allow 51% FDI in multi-brand retail sector.
Last year, the Opposition had served a similar notice and forced a voting on multi-brand retail FDI. The UPA had managed to sail through the motion. Now, it can not be entirely dependent on the support from parties likes DMK and SP.
BJP’s Yashwant Sinha and CPI’s Gurudas Dasgupta have again demanded a vote for annulment of the FEMA amendments.
The ongoing monsoon session is the last opportunity for the Opposition to seek voting on the FEMA amendments because otherwise, the FEMA regulations would get automatically approved at the end of this session.