November 29th, 2011
Email this page

PM justifies FDI in retail

ManmohanNew Delhi: Prime Minister Manmohan Singh today justified the decision of permitting 51% FDI in retail sector. He has refused to roll bank on the decision. Though the opposition believes the onus is on the ruling to ensure the efficient and smooth functioning of the parliament, the PM thinks the opposition is doing everything in its capacity to prevent the Parliament from functioning.  Prime Minister Manmohan Singh said that his government believed Foreign Direct Investment in retail would benefit farmers, small retailers, the country as a whole.

“We want to bring laws, but the Opposition is not letting Parliament run. This betrays public trust. We hope to resolve the crisis though on FDI. We have really considered it and believe it is for our best. It will get us modern technology, not let crops get damaged, get farmers good prices and bridge gaps.” The PM also explained, speaking at a Youth Congress meet on Tuesday, that there was no compulsion on states to implement the decision on FDI in retail. “The states which do not see benefits of FDI in retail, there are ways not to implement it,” he said.

Singh insisted that the decision to allow FDI in retail was aimed at creating jobs, improving remuneration of farmers and enabling import of technology besides benefiting consumers. “We believe that it will bring modern technology to the country, improve rural infrastructure, reduce wastage of agricultural produce and enable our farmers to get better prices for their crops,” Singh said, virtually ruling out any reversal of the decision.



Press ctrl+g to toggle between English and Malayalam.