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The top news of the morning reveals that the West Bengal Chief Minister and Trinamool Congress chief Mamata Banjerjee has announced in a press conference last night that her party will withdraw its support from the United Progressive Alliance [UPA] Govt at the Centre.
However, Mamata Banerjee also said that she may reconsider on it if the central govt would get ready to hold talks in some recent refoms.
Attention please, there are reports in media that the key UPA ally, the Mamata Banerjee’s Trinamool Congress [TMC] may pull out its cabinet ministers and give outside support to the ruling part of the country.
The party may take back its complete support from the UPA govt, if the govt don’t roll-back the hike in diesel prices ans FDI in multi-brand retail before its 72-hour deadline ends on Tuesday.
According to latest news, the Uttar Pradesh Chief Minister Akhilesh Yadav has announced that the Samajwadi party will not allow implementation on FDI in retail in the Uttar Pradesh state.
Talking to media, Akhilesh Yadav said, “Samajwadi Party’s view is very clear on the FDI issue and it will not implement it in Uttar Pradesh.”
Further, the state chief minister refused that there was a proposal to inaugurate such stores in Uttar Pradesh.
The central government of the country is facing high pressure from the biggest opposition party BJP and the supporting party Left, as these parties are planning nationwide protest against UPA’s bid to allow FDI in retail and civil aviation sector.
Further, some regional parties such as Samajwadi party and Janata Dal (U) also joined the protesting camp, demanding a rollback of the hike in diesel prices and LPG gas cylinders.
Just right back when US President Barack Obama yesterday concerned India’s trouble investment scenario, corporate affairs minister Veerappa Moily reportedly said that certain “international trade lobbies” have been spreading such stories that lead Obama misinformed about the country’s strong economic fundamentals.
“Certain international lobbies like Vodafone are spreading this kind of a story and Obama was not properly informed about the things that are happening, particularly when India’s economic fundamentals are strong,” Moily told reporters.
In yet, Govt’s FDI policy has badly destructive in the market, the world’s largest flatpack furniture and accessories maker, IKEA plans to enter Indian market, the Asia’s third-largest economy.
IKEA’s decision came up after settling a meeting between the company’s CEO and India’s trade minister in Russia and Indian govt itself announced it that Swedish company is opening it stores in India.
FDI in retail is the most high controversial issue that is rare fro both India and foreign nations. As part of this, US Secretary of State Hillary Clinton who is here under three-day visit went to Kolkata on Sunday to meet West Bengal Chief Minister Mamata Banerjee over her opposed fact of FDI.
In the most high-profile meeting on Monday, Ms Clinton will meet Banerjee at the Writers’ Building in Kolkata, discussing the several facts regarding investment opportunities in West Bengal, one of the main Foreign Direct Investment. (FDI). Banerjee resisted FDI policies.
Within next 6 months, Indian business sector will see with many important reforming changes that are to be positive or negative as compare to present, Chief Economic Advisor Kaushik Basu remarked in his statement at the Washington-based think tank.
The reforms are in line of subsidies and diesel decontrol and FDI in retail, but as per him, reform in GST (Goods and Services Tax) may put investor in difficult situations as present is good for them.
