The FDI in Retail reforms that has evoked mixed response from many quarters is being targeted by the West Bengal Chief Minister Mamata Banerjee to call the shots on the ruling Congress led UPA government. The former ally of the UPA left them in the lurch protesting against the reforms. And on Thursday the leader had given a call to the other allies over the issue. While the DMK from Tamil Nadu and the BSP from Uttar Pradesh firmly said that they were not a party to pull down the ruling UPA. They felt that an immediate election would be burden on the exchequer and add to the woos of the common man more.
The call by the Bengal iron lady came in the wake of several more reforms thrust on the public by the UPA on Thursday. The Congress led UPA had cleared the introduction of FDI in pension and increase in the FDI cap in insurance. The Cabinet also cleared the Companies Bill. Just minutes after the announcement of the second set of reforms, Ms Mamata made her intentions of an early polls very clear. She posted on her wall on the Facebook, "Is it the UPA's intention to sell out the country? We should unitedly oppose this. Minority government cannot play such immoral role. Let's move a No Confidence Motion. I will also appeal to those supporting UPA to come out and oppose these moves." the sharp language used by the leader suggests the imminent need of the country.
Earlier while withdrawing support to the UPA, Ms Mamta had been quoted as, 'I don't agree with such economic reforms which are anti-people because I believe in grass root reforms which concern the masses. Leaders should stop taking decisions which help only four-five people for gaining personal laurels from handful of people. It is a matter of entire country.'
The proposed 51 percent foreign direct investment (FDI) proposal into the retail segment, FDI in retail is supposed to give the necessary impetus for a robust economy, feel economists. While the politicians cry foul of the speedy agenda of the UPA just in time before the 2014 General elections. 'FDI in retail is not the need of the country at this moment. As far as Wal-Mart is concerned, they won't come for charity. They are coming for profit. They want market. Allowing FDI for infrastructure development is not true,' felt the BJP.
CPI (M) relents, 'Ours is a country where shops employ four crore people. After agriculture, this is the largest employment provider in India.... Into this scenario, you want to bring these supermarket chains, which will destroy the retail shops. In western countries this has happened. No retail shop exists where there are these large multi-brand chains.'
Similarly there is definitely going to be wide spread discussion over the issue. But with the Congress keeping a check on its partners nothing could topple the government nor the reforms that are set into motion. Apart from that the consumer will be the most benefited and when we say this the entire nation is a consumer of some sorts. It will give the much needed fillip to the entire gamut of industries. Employment opportunity will be created in plenty. Manufacturing activities will get a boost. Apart from bringing in adequate money into the system, we are sure to get the best out of the issue, the sensex raise was the indication. (With inputs from internet-AW AarKay)