Defence FDI okay, not retail; scrap coal blocks: Jaitley


Defence FDI okay, not retail; scrap coal blocks: JaitleyBhartiya Janata Party (BJP) continues to oppose the opening of retail sector to foreign investors as it will affect millions of small traders and result in job losses. Speaking to CNBC-TV18’s Shereen Bhan, about BJP’s economic policies, BJP spokesperson Arun Jaitley said the party is against allowing FDI in multi-brand retail but may selectively accept FDI in defence.

The Cabinet in September 2012 had approved up to 51 percent FDI in multi-brand retail, while empowering state governments to independentaly decide if they want to let international chains set shops.

Recently, Arvind Kejriwal-run Delhi government had blocked FDI in retail leading to speculations that it will lead to a fall out with Congress. The conversation veered around BJP’s stand on other contentious subjects ranging from coal scams to gas pricing to mining mess. While Jaitley thinks mining ban is a huge challenge, he suggests scrapping of coal block allocations as the only option to get around the issue.  Read more. 

Source: http://www.moneycontrol.com/

Advertisements

Tagged as: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Categorised in: Interviews, Retail, Sector News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: