BJP to counter FDI in multi-brand retail

Surajkund (Haryana) Sep 26 (IANS) The BJP will counter the government’s decision to allow 51 percent foreign equity in multi-brand retail by saying 100 percent FDI in back-end operations in food processing industries has been very low in the past decade.
“100 percent FDI in back-end operations in food processing industries allowed 10 years ago have seen very low investment as compared to the projections,” BJP spokesperson Prakash Javadekar told reporters here Wednesday.
He said only $25 million worth investment has come against the projected $25 billion.
“Why is the government pushing FDI in multi-brand retail?” asked Javadekar.
The argument will be part of the economic resolution to be debated and considered for passage during the party’s national council, the decision-making body, meeting here Sep 27-28.
The BJP also plans to target Prime Minister Manmohan Singh’s recent address to the nation justifying the economic reforms, saying the speech disappointed the people who were expecting some relief from the harsh measures announced earlier.
“The prime minister keeps referring to the economic reforms started by him in 1991 but the Congress and its policies have been responsible for the economic mess the country is in today,” said Javadekar.
He added that the issue would be part of the BJP’s political resolution before the national council on Thursday.
The party’s strategies for the coming assembly polls in Himachal Pradesh and Gujarat would also be discussed during the council meet, said party sources.

Source: IANS