Manmohan Singh today refused to yield to pressure on the question of allowing foreign direct investment in retail and appeared ready for a protracted battle, including the risk of a vote in Parliament despite his government’s fragile majority. Somewhat reminiscent of his nuclear deal stand, the Prime Minister confronted those who had accused the government of taking a hasty decision on retail. “We have not taken this decision in haste, but after...

In the backdrop of political uproar over government’s decision to allow FDI in retail, N C Saxena, member of National Advisory Council (NAC), on Wednesday said there was no economic rationale against the decision and the opposition to it is guided by political whims. “Opposition to FDI in retail is based on political whims which has no economic rationale,” he said. Saxena reasoned that FDI in retail would only incentivise efficiency and...

-The Telegraph   Trinamul Congress members today carried placards inside Parliament denouncing the decision to let foreign players enter the multi-brand retail market, snubbing the government’s efforts to get ally Mamata Banerjee’s party on board. It was the first time since the FDI row erupted last week that party MPs waved placards that read “FDI hai hai” as they stormed the well of the House demanding that the government roll back its decision. According...

-The Indian Express   After a week of parliamentary gridlock over retail reform, it appears as though both government and opposition are getting too used to this state of stalemate, the squandering of precious parliamentary time over one thing or the other. The constant adjournments, disruptions and boycotts over the last three sessions have, by now, seriously undermined Parliament — blocking important legislation, putting showy partisanship above the nation’s real needs. Is the...

-IANS Finance Minister Pranab Mukherjee on Wednesday met Congress MPs after calling on party president Sonia Gandhi to discuss the standoff over the decision to allow foreign equity in retail.  The government's known troubleshooter held a brief meeting with Gandhi at her 10 Janpath residence before meeting party MPs to allay their apprehensions on the decision to allow 51 percent foreign direct investment ( FDI) in multi-brand retail and 100 percent in...