Pranab announcement breaks logjam

The nine-day deadlock in Parliament over FDI in retail ended on Wednesday, with finance minister Pranab Mukherjee announcing the government’s decision to hold back implementation of the policy.

The nine-day deadlock in Parliament over FDI in retail ended on Wednesday, with finance minister Pranab Mukherjee announcing the government’s decision to hold back implementation of the policy.

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HT had first reported on December 4 that the Centre would hold back the decision.

“The decision to permit 51% FDI in multi-brand retail is suspended till a consensus is developed among various stakeholders,” Mukherjee said in the Lok Sabha on Wednesday. He said the stakeholders were political parties and chief ministers, without whose involvement the decision can’t be implemented.

“The government has bowed to the wishes of the people. To bow before the will of the people is not defeat,” said Leader of Opposition in Lok Sabha Sushma Swaraj.