BJP not in favour of multi-brand FDI: Jaitley

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Finance Minister Arun Jaitley has claimed the Bharatiya Janata Party was “never” in favour of allowing foreign direct investment in multi-brand retail and a recent government notification only published the extant policy on it.
“Let’s be very clear. What the DIPP (Department of Industrial Policy and Promotion) did was publish the existing policy and so far what was decided by the UPA is continuing, the fact that the BJP was never in favour of this decision is publicly known,” Jaitley told news agency PTI.
Jaitley was reacting to a question on the DIPP in its FDI policy compendium stating that 51 per cent foreign direct investment was permitted in the multi-brand retail sector.
“If somebody asked me what is your view, I said BJP is never in favour of this,” he said.

Jaitley also evaded giving a direct reply to a question on what the government’s response will be if a retailer was to submit an FDI proposal. “When it will come, I will (respond),” he said.

Few days back, he had given no indication that the government was about to reverse its predecessor’s decision that allowed up to 51 per cent FDI in the segment.

 

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