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CPI-M welcomes debate on FDI

Posted on Nov 29, 05:09PM | IANS

The Communist Party of India-Marxist (CPI-M) Thursday welcomed the decision for debate with vote on retail FDI in both houses, while slamming the government for not agreeing to it earlier.

"Finally, the government agreed to have a debate on FDI with vote, but if they would have done it earlier, so much time would not have been lost," CPI-M leader Sitaram Yechury said.

"We firmly believe this (FDI in retail) is not in favour of the country. Even if they win the vote after debate, we would move amendments when FEMA (Foreign Exchange Management Act) comes in parliament," he said.

The FEMA will have to be amended with approval of parliament to allow FDI in retail.

Both houses of parliament saw repeated disruptions on the issue of retail FDI since the session began Nov 22.