-The Hindu In its attempt to demonstrate to foreign capital that it is committed to reform, UPA II has launched on what many consider a liberalisation blitz. A principal feature of the new measures is the greater space and influence being afforded to foreign investors in sectors varying from retail and civil aviation to insurance and pensions. Multiple arguments have been put out by official spokespersons to justify the new measures:...
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Rahul backs FDI in retail, says it will benefit farmers
-PTI Backing Centre's decision to allow FDI in multi-brand retail, Congress leader Rahul Gandhi has said the decision will help farmers prosper by removing middlemen from the supply chain and generate new jobs. Addressing the national executive of Indian Youth Congress in Srinagar last night, Rahul said FDI in retail will help farmers store their produce safely for a longer duration, thus ensuring best value for their crops. The 42-year-old AICC general...
More »UPA-II gambles with another round of big bang reforms -Sujay Mehdudia
-The Hindu FDI cap in insurance raised to 49%; foreign investment in pension sector allowed; new Companies Bill 2011 cleared Notwithstanding the strong opposition to its reforms agenda, the Manmohan Singh government on Thursday pressed ahead with more big-ticket reforms, raising the FDI cap in the insurance sector to 49 per cent, opening up the pension sector for foreign investment and clearing the Companies Bill, 2011. It also approved amendments to the...
More »SC seeks clarification on legal sanctity behind FDI in retail -Dhananjay Mahapatra
-The Times of India The Supreme Court has sought clarification on legal sanctity behind the Union government's policy decision to allow FDI in retail sector. The apex court said that policy decisions are in the sole domain of the government, but kept a PIL for hearing on October 12 as the petitioner argued that the recent FDI policy decision was not in consonance with RBI-framed regulations under FEMA. The SC, however, refused to...
More »FDI in retail must be measured by benefits for consumer & economy, not just for farmers
-The Economic Times The recent decision of the government to allow FDI in multi-brand retail trade has attracted heated debate and emotive reactions. Though the main consideration for allowing FDI in retail is not its benefit for farm sector, the debate has predominantly focused on threats and benefits to the country's farmers and the farm sector. Interestingly, the main stakeholders, i.e., farmers, have not reacted much to the policy decision and...
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