Trinamul demands rollback of FDI in retail

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Soon after both houses of parliament were adjourned amid opposition protests against foreign direct investment (FDI) in retail Monday, ruling United Progressive Alliance (UPA) constituent Trinamul Congress also demanded a rollback of the decision.

Talking to reporters outside parliament, Trinamul Congress leader Sudip Bandyopadhyay told reporters the party was against the FDI in the interest of common people.

"We will oppose this move (FDI in retail) in the interest of the common man," Bandyopadhyay said.

Claiming that it had played a major role in getting the prices of fuel reduced, the TMC leader said, "Opposition parties have also opposed fuel hike but what happened. It is the TMC which has protested the fuel hike effectively as all our MPs had come to meet the Prime Minister on the issue and as a result petrol price was reduced within 15 days."

He said there was no coordination between opposition parties and the Trinamul Congress on the issue, but the Trinamul would pressurise the government to revoke the decision.

Samajwadi Party opposes FDI too

The Samajwadi Party, which is extending outside support to the government, also opposed the move. "We will oppose the FDI decision both inside and outside parliament," party leader Mulayam Singh said.

The union cabinet last week approved 51 percent FDI in multibrand retail and 100 percent FDI in single brand retail trade.