Indian economy would face crisis because of the Foreign Direct Investment in retail policy adopted by the United Progressive Alliance (UPA) government at the centre, said D. Raja, national secretary of the CPI, in Tiruvarur on Wednesday.
At a seminar, organised in connection with the death anniversary of Mahatma Gandhi, on FDI in retail market here, Mr. Raja said that the UPA government is moving away from the economic policy of Mahatma Gandhi.
“Mahatma Gandhi wanted economic freedom as well as political freedom.
He suggested building self-reliant economy.
But the UPA government, which says it is following the policies, is moving against his wish,” he said.
He said that the DMK, which is part of the UPA government, did not have a consistent policy with respect to permitting FDI in retail.
It opposed it initially and later supported it.
FDI would not help traders and farmers of India as claimed by the UPA government.