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A day after the government notified rules to permit FDI in retail, CPI(M) on Friday charged the ruling coalition with taking the “single biggest step” to destroy the livelihood of a large number of people.
“By this policy announcement, Manmohan Singh government has taken the single biggest step of destroying the livelihood of the largest number of people engaged in retail trade in India,” the CPI(M) Politburo said in a statement.
The government has gone ahead with the move “notwithstanding the widespread opposition” to FDI in multi-brand retail trade, the party said, adding it would wage struggles “to get this anti-national decision rescinded”.
CPI(M) said the rules announced by the government were “designed to serve the interests of multinationals” like Wal-Mart, TESCO and Carrefour. The investment floor of $ 100 million or Rs 550 crore was “insignificant” for giant retailers like Wal-Mart which were multi-billion dollar firms.
The restriction that foreign retail outlets should be in cities with over 10 lakh population was also irrelevant because “these are precisely the urban centres which the MNCs want to access as they are the most lucrative segment of the market,” it said.
Furthermore, the rules provide that in states or Union Territories which do not have cities with a population of over 10 lakh, foreign retail outlets could be set up in cities of their choice, the party said.
“That the government is bent upon promoting FDI in retail at the cost of domestic interests is clear from the dilution of the conditions set for FDI in single-brand retail,” it said, adding that the rule for MNCs to mandatorily source 30 per cent of the value of products from small, village and cottage industries has been “diluted”.
Keywords: Economic policy, FDI in retail, CPI(M), Polit Bureau
Now is the time in the name of Food and House earlier it was in name of cloth (FDI will confuse all the stakeholders):
Dear Respected Prime minister, Sooner or later it was supposed to come your desk on FDI, It will be a flop show if you do not resist now, they will not import any vegetables or rice or wheat they will export our reap.
peoples will starve due to blockage of micro economy flow among peoples because macro economies will override
and about "I heard your speech regarding the money generation that it is not ripen over tree", dear sir do not you think that all the current worldly problems are due to inflated economy and exploitation of natural resources which is clear that foreign investment in Businesses in india will exploit now to the individuals because west has already a view of humans as natural resources see any of the management books, they will definitely exploit because western business means by hook or crook dominate earlier for cloth now food
The real culprit for all these going to be devastation is Maya and
Mulayam who for there petty political gains are fooling people and
supporting UPA government?
In UPA I it was the Nuclear Deal with Dr. Singh' s US friend Mr.George Bush that was the
epicentre of political storm. The whole world knows how the then government of India
survived what was to be a definite fall. Now it is the FDI. Looks like that SP has been roped
in this time to comfortably win the struggle for existence. For how long, before 2014? It
seems Mr.Mulayam only knows the answer? Before that, who is going to do a quick cost
benefit analysis, from the point of view of consumers and retailers in a dispassionate manner
in this LPG ( liberalised,rivatised and globalised era? Any comparison with China will not give
a convincing assessment as the political systems in the two countries are entirely different.
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