TMC supremo remains unconvinced on FDI in multi-brand retail

Mamata Banerjee, the Trinamool Congress (TMC) supremo remained unconvinced despite the Chief Economic Adviser of Finance Ministry, Kaushik Basu advocating that FDI in retail will be a win-win situation for the economy.

The praising words and advice on macro-economic issues by Basu failed to dilute the opposition’s stand on opening up of multi-brand retail sector to FDI in West Bengal. The proposal was stalled after the Trinamool, UPA's key partner; along with some opposition parties opposed the move.

Banerjee has been opposing FDI in retail, as she expressed fears that it would affect the livelihood of nearly 5 crore people.