Welfare Party against FDI in retail sector
By TCN News,
New Delhi: The Welfare Party of India has criticized the Union Cabinet approval of relaxing the cap on FDI in retail sector. The bill approved by the Cabinet entitles foreign direct investment to 51 percent in multi-brand retail and 100 percent in single-brand.
Dr. S.Q.R. Ilyas, General Secretary of Welfare Party, wondered why, in spite of strong resistance from the public and retail traders, the government took such a harsh and hasty decision. “The Congress that leads the UPA has gone to such an extent that the resentment and reservations of the coalition partners are taken lightly and is severely serious to appease giant corporate houses,” Dr Ilyas said in a statement.
Dr. S.Q.R. Ilyas, General Secretary of Welfare Party, wondered why, in spite of strong resistance from the public and retail traders, the government took such a harsh and hasty decision. “The Congress that leads the UPA has gone to such an extent that the resentment and reservations of the coalition partners are taken lightly and is severely serious to appease giant corporate houses,” Dr Ilyas said in a statement.