CPM blames PM, Congress for misleading people about FDI in retail

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  1. Ray

    Ray The Chairman Defence Professionals Moderator

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    CPM blames PM, Congress for misleading people about FDI in retail

    CPM blames PM, Congress for misleading people about FDI in retail - The Times of India

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    Summary of the News report

    The CPM has mounted a scathing attack on the Congress, and rubbished Manmohan Singh's allegation that the Opposition is misleading people on FDI in multi-brand retail.

    It is the Congress and the PM who are misleading the people the CPM mouhtpiece People's Democracy claimed.

    The Left has scuttled the attempt of the UPA I to bring in FDI because the Left lucidly indicated that by a conservative estimate 11% of the Indian GDP is engined by the retail trade, employing 40 million people and by permitting Multinational into retail would be casting them to the wolves and increasing poverty!

    The CPM claims "These are the realities that the Congress party and the UPA-II government refuses to recognize and continues with a campaign of disinformation to mislead the people,"

    On the issue of Rahul Gandhi wanting to 'change the system', the CPM wondered "People, however, were left guessing as to what these changes are and who will bring them."

    The party blamed the Congress for the "current structure of the neo-liberal economy and reforms that have opened up hitherto unknown and inconceivable avenues for mega corruption". "This neo-liberal trajectory led to the mushrooming of crony capitalism of the worst order," it added.

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    There is no doubt that many feel that FDI in retail would certainly benefit the better off sections of Indian society and may even encourage lowering of prices.

    It is also a truism that in western countries supermarkets have driven out the farmers and small traders In New York, Walmart was not allowed to open shop. In the US, small time farmers are opening up weekly markets (like Indian 'haat') since consumers are turning away from packaged products.

    On Rahul Gandhi wanting to 'change the system', one wonders how come the Congress which has had about 9 years in governance has now realised at such a belated stage that there is a necessity to change the system. Does not behove well to call one's own political party a clone of Rip Van Winkle!
     
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  3. Ray

    Ray The Chairman Defence Professionals Moderator

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    FDI: SC says policy must be approved by parliament

    Hearing a plea against FDI in retail, the Supreme Court Monday said if the government formulates a policy which is not approved by parliament then it would be doing so at its own peril.

    "The executive is mandated to rule. It is for it to decide how to go about the governance and if it violates the constitution then judiciary would step in," said the apex court bench of Justice R.M. Lodha and Justice Anil R. Dave.

    The court's remark followed the government's statement that it had effected the necessary amendments in Foreign Exchange Management Act (FEMA) and Reserve Bank of India (RBI) regulations to facilitate multi-brand foreign direct investment (FDI) in the retail sector.......

    FDI: SC says policy must be approved by parliament | Deccan Chronicle
     

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