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The UPA Government may not find it all that easy to allow foreign investments in multi-brand retail and pension sector in the coming days.
This is because the Opposition parties are in no mood to relent on the FDI front in the upcoming monsoon session of Parliament.
Consensus also eludes the UPA with its key-ally Trinamool Congress today making it clear that it was opposed to "anything on FDI''.
While there is no need for legislative approval for allowing FDI in multi-brand retail, there is need for Parliament approval for allowing FDI in pension and also for hiking FDI cap in insurance sector.
The single largest Opposition party in Lok Sabha - Bharatiya Janata Party (BJP) today said that in the monsoon session, it would ask the Government to spell out its stand on allowing foreign investment in multi-brand retail.
The UPA Government had in November last year announced its decision to allow 51 per cent FDI in multi-brand retail. But its implementation was put on hold after several political parties including its key-UPA ally Trinamool Congress had opposed the opening up of multi-brand retail to foreign investment.
"It looks like Government has now made up its mind (on the issue)," Sushma Swaraj, Senior BJP leader and Leader of Opposition in Lok Sabha, said after attending an all-party meeting convened by the Lok Sabha Speaker Ms Meira Kumar, ahead of the monsoon session.
As the Government was not revealing its stance, BJP will seek a discussion on the issue to understand the UPA Government’s latest position on the same, she noted.
Swaraj pointed out that the erstwhile Finance Minister Pranab Mukherjee had assured the Lok Sabha in December last year that a final decision will be taken only after consulting all the Opposition parties.
Meanwhile, Leader of the Trinamool Congress in Lok Sabha Sudip Bhandopadhyay today made it clear his party will oppose "anything on FDI'', whether it be multi-brand retail or opening up the pension sector to foreign investment.
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