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BJP welcomes debate with vote on retail FDI

Posted on Nov 29, 06:52PM | IANS

The BJP Thursday welcomed the government's decision to agree to the debate with voting on FDI in multi-brand FDI, adding that voting on FEMA would be the next step.

"In both houses, the government has agreed for FDI in retail debate. I thank Lok Sabha speaker and Rajya Sabha chairman," Bharatiya Janata Party leader Ravi Shankar Prasad said.

"The houses may have started to function earlier if government would have agreed on the first day," he added.

The BJP leader also said that voting on FEMA (Foreign Exchange Management Act) would be the next step.

"After the debate, government will have to bring FEMA for vote which will actually show who is in favour of retail FDI and who is against it. If some parties vote in against government in the debate, and vote in favour in FEMA, it will show their realty," Prasad said.

Amendments to FEMA, which regulates entry of foreign investment in the country, needs to be approved by both houses of parliament. Changes have been made in the act by the Reserve bank of India (RBI), which now need to be passed by the two houses.