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Logjam in parliament over, govt agrees to suspend its decision on FDI in retail

07 Dec 2011 Evaluate

The logjam in the parliament over the FDI issue has finally been resolved, as opposition parties accepted the government’s formula and agreed to allow parliament to function today. After the all party meeting, the finance minister Pranab Mukherjee announced the suspension of the government’s decision to allow 51% Foreign Direct Investment (FDI) in retail till a consensus is evolved.

Earlier, the government had called an all-party meeting to end the deadlock in parliament over allowing foreign investment in domestic retail industry. The government is facing stiff resistance from opposition and some of its own allies on the issue.

Reacting to the government’s decision of suspension of the decision of allowing FDI in retail, left party leader D Raja said that the move was a virtual rollback. The opposition parties were demanding rollback of the decision as it will affect the livelihood of millions of people and local Kiran shops.

UPA government’s key ally Trinamool Congress, which is opposing the decision of allowing FDI in sector, had expressed happiness over the decision. 'We are happy that this decision has been taken back. Mamata was already told about it. We are happy that the BJP too has agreed to this suspension of the decision,' said TMC MP Sudip Bandyopadhyay.


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