BJP opposes FDI in retail market

BJP leader and PAC Chairman Murli Manohar Joshi at a media conference in Bhubaneswar. Photo: Ashoke Chakrabarty

Public Accounts Committee Chairman Murli Manohar Joshi on Sunday said the BJP would oppose any attempt to permit foreign direct investment in the retail sector.

“It will impact the nation's economy. The Finance Minister has himself said the country could escape the impact of global meltdown because it had no broader connection with the global economy. Now he is contradicting his own stand by allowing FDI in the retail sector.”

Dr. Joshi blamed the UPA government's ‘faulty' policy for inflation. “In fact, the Centre has no policy to address this situation. Sometimes it says there is problem on the supply-side and sometimes it blames the global phenomenon. FDI in the retail sector would only make matters worse.”