FDI IN RETAIL GETS THE GREEN SIGNAL

 

Following a heated debate and discussion in the Lok Sabha for the second consecutive day on Wednesday, under Rule 184, FDI in retail has been passed in the Lower House.

 

BJP's motion opposing the Congress-led UPA government's move to allow foreign direct investment (FDI) in multi-brand retail was defeated in the Lok Sabha with 218 MPs voting for the motion & 253 voting against it. The government also won the motion on amendments to the Foreign Exchange Management Act (FEMA) to facilitate foreign investment in multi-brand retail.

The Rajya Sabha will begin debating the issue on Thursday and will vote on Friday.

The proceedings of the day in a gist:

06:46 PM -- UPA wins FDI vote in Lok Sabha

06:20 PM -- Sushma Swaraj says: Of 18 parties represented by 22 MPs who participated in the FDI debate, 14 parties opposed FDI

06:05 PM -- MPs of SP and BSP stage a walkout prior to voting on FDI, abstain from casting vote. Mulayam Singh Yadav defends the walkout by the SP saying the party had to do it since FDI was an insult to farmers

05:42 PM -- BSP MPs walk out of Lok Sabha

05:03 PM -- Commerce minister Anand Sharma defends FDI in multi-brand retail, says decision was not taken overnight. Twelve farmer unions consulted about allowing FDI in retail sector. Adds: Out of 21 states, 11 states were in favour of FDI, 7 opposed & 3 undecided

04:58 PM -- Former Prime Minister Deve Gowda opposes FDI in retail. 

04:28 PM -- Telugu Desam Party disagrees on FDI in retail, says 'Government is not with the farmers and is with foreign companies. It is acting as middleman for foreign companies'

04:25 PM -- RJD chief Lalu Prasad Yadav says: There is no compulsion on the FDI issue. Everyone is free to choose what to buy and from where to buy

03:34 PM -- FDI debate resumes. BJP's Murli Manohar Joshi speaks in favour of his party's motion 'against' FDI in Lok Sabha

03:11 PM -- RJD chief Lalu Prasad calls BJP a 'puppet'. Lok Sabha is adjourned briefly following verbal clashes between Rashtriya Janata Dal chief Lalu Prasad & BJP MPs

03:10 PM -- Congress MPs from Punjab protest against Harsimrat Kaur Badal's speech

03:09 PM -- Akali Dal's Harsimrat Kaur Badal says FDI will displace middlemen. Questions govt policy for their security.

02:29 PM -- CPI's Gurudas Dasgupta supports opposition's motion against FDI in Lok Sabha. Says: For a retailer like Wal-Mart, Prime Minister Manmohan Singh is ready to sacrifice the government

02:24 PM -- Biju Janata Dal opposes FDI in retail, says pushing it will trigger social unrest in the country

02:23 PM -- JD(U) asks government to reconsider their decision on FDI. Sharad Yadav says: UPA may win the battle in the house but the policy would have long-term impact

02:22 PM -- CPM stands against FDI. Says: Will take fight against FDI in retail to streets: CPM

01:33 PM -- Nationalist Congress Party MP Praful Patel says FDI won't hurt local markets, asks Opposition - You didn't oppose shopping malls, why oppose FDI? 

12:42 PM -- Janata Dal (United) chief Sharad Yadav stand by ally BJP, says FDI will divide India

12:21 PM -- Samajwadi opposes FDI but says it won't interfere with government's decision

12:20 PM -- CPM refuses to accept the government's argument that FDI in retail will benefit Indian farmers

12:19 PM -- CPM's Basudeb Acharia starts today's FDI debate in Lok Sabha

12:16 PM -- FDI debate resumes in Lok Sabha

11:21 AM -- Samajwadi Party chief Mulayam Singh Yadav opposes FDI, says: FDI in retail will result in more unemployment

11:21 AM -- Communication & IT minister Kapil Sibal gives a point by point rebuttal,says FDI to be introduced only in 18 states, state governments could choose whether or not to implement it

11:19 AM -- Leader of the Opposition Sushma Swaraj initiates discussion on FDI in the lower house under rule 184, which entails voting, charges the government with not consulting all stake holders despite the assurances made to the Parliament

Bureau Report
Mumbai

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