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FDI should have permitted for infrastructure development: Nitish

Posted on Dec 05, 09:52PM | UNI

Bihar Chief Minister Nitish Kumar today said he would have supported the decision to allow Foreign Direct Investment (FDI) in infrastucture area, where as in retail market, the permission for FDI would be disastrous not only for the economy of the country, but also there was possibility of loss of job for crores of people earning their livelihood from their sector.

Mr Kumar told mediapersons here that the decision of the Congress led UPA government at the Centre was taken to appease the foreign companies and western countries and it had nothing to do with the protection of interest of the common man of the country.

'There was no question of growth accelarating with the induction of foreign direct investment in retail market', Chief Minister said, adding that the decision would actually increase the unemployment.

Farmers would be vulnerable for being exploited by the malti national companies if FDI came in retail sector, he observed.