Finance Minister Pranab Mukherjee may be right in pushing for FDI in retail because reports have been pouring in, indicating that the economic downturn in India and abroad will worsen in coming weeks. 'I want money,' an agitated Finance Minister Pranab Mukherjee reportedly told the Cabinet on Thursday, November 24, when coerced by colleagues from his Congress party for pushing 51 per cent Foreign Direct Investment in retail. The FDI issue is...

-The Economic Times   The row over opening up of the retail sector escalated on Monday with Congress' Kerala unit backing the rollback demand of 12 Opposition-controlled state governments and UPA allies DMK and Trinamool Congress.  The fissures within the ruling alliance and the potential of the issue to bring disparate Opposition groups together saw Congress president Sonia Gandhi intervening to cut political losses for her party. Sonia, who held consultations with Prime...

With deep pockets and international sourcing capabilities, global retail chains will outcompete domestic players, displace jobs, and undermine livelihoods. In predictable fashion, the Manmohan Singh government chose to ignore voices of opposition and implement its agenda of permitting foreign investment in the retail trade. While Parliament was in session, the Cabinet met to approve the hitherto prohibited foreign direct investment in multi-brand retail, with a cap of 51 per cent on...

Reservation for Muslims in jobs and education — feverishly anticipated over the past two years and expected to be announced ahead of the Uttar Pradesh Assembly elections — might turn out to be a headache the Congress unthinkingly bought itself. As Muslim groups have been arguing, the route under the United Progressive Alliance government's consideration — a 6 per cent Muslim sub-quota within the 27 per cent OBC quota — would...

Indian athletes are threatening to boycott next summer's London Olympics in an extraordinary stand-off with the head of the 2012 Games, Lord Coe, over his controversial sponsorship deal with a chemical company. Lord Coe is under personal attack for signing the deal with Dow Chemical – under fire in India for its ownership of Union Carbide, whose Indian subsidiary was responsible for the Bhopal industrial disaster, one of the world's worst,...