November 29th, 2011
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All party meeting ends, deadlock prevails

corporate-marketNew Delhi: A meeting of all parties called by Finance Minister Pranab Mukherjee ended in a deadlock. No consensus has been arrived at among the government and the parties. After the meet ended, the Opposition reiterated it will not allow Parliament to function till the government withdraws its decision regarding 51% FDI in multi branding retail sector. A few allies of the UPA are also against the government’s decision.

Sources said that the government told the meeting that it will discuss demands of parties opposing FDI in retail with PM.The meeting at the parliament annexe was attended by opposition parties like Bharatiya Janata Party (BJP), the Left, AIADMK, Bahujan Samaj Party (BSP) and Samajwadi Party as well as the Congress and its allies like the Trinamool Congress and DMK.

The BJP says it’s opposed not just to the FDI decision because it would hurt farmers and traders, but at the Government’s attempt to exclude large parties from consultations. But its righteousness is somewhat undermined by the fact that in 2004, its election manifesto proposed 26% FDI in retail to allow “Organized retail trade on the international pattern for growth of trade and employment.”

The opposition has been clearly expressed by key allies like Mamata Banerjee and the DMK, whose presence in the UPA is key to the survival of the government.

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