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Tuesday, Jul 13, 2004

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UPA stands firm on FDI hike proposal

Our Bureau

New Delhi , July 12

THE United Progressive Alliance (UPA) today decided to put up a show of unity in Parliament on the Budget proposals despite the Left parties coming down heavily against the move to allow higher Foreign Direct Investment (FDI) in the insurance, telecom and aviation sectors.

The UPA has decided that it would not roll back the FDI proposals. The UPA meeting that was chaired by its Chairperson, Mrs Sonia Gandhi was attended by the Prime Minister, Dr Manmohan Singh.

During the meeting, the Finance Minister, Mr P. Chidambaram explained to the UPA constituents the thrust of the Budget on agriculture and rural development to accelerate economic growth.

Among those who attended the meeting were the Railway Minister, Mr Lalu Prasad, the Agriculture Minister, Mr Sharad Pawar, theCoal and Mines Minister, Mr Shibu Soren, the Defence Minister, Mr Pranab Mukherjee and the HRD Minister, Mr Arjun Singh.

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