Houses erupt over retail FDI; Sharma left speechless
25 Nov 2011
Parliament expectedly erupted today when commerce and industry minister Anand Sharma announced the government's decision to liberalise the retail sector, allowing 51 per cent foreign direct investment in multi-brand retail and 100 per cent FDI in single-brand retail (See: Cabinet nod for 51 per cent FDI in multi-brand retail)
Joining the opposition outcry against the move were (again expectedly) the Trinamool Congress, a key member of the coalition UPA government led by the Congress, as well as the Dravida Munnetra Kazhagam, another coalition partner.
Sharma announced the move to both the Lok Sabha and Rajya Sabha in a prepared statement. He was not however allowed to elaborate his statement, as in the lower house, the Trinamool Congress, led by West Bengal chief minister Mamata Banerjee, joined the opposition and trooped into the well, shouting slogans against the decision.
In the upper house, Sharma's written statement giving details of the decision was torn into pieces by Communist Party (Marxist) and Bharatiya Janata Party members.
Sharma could not read out his statement amid the din, and both houses were adjourned till Monday.
The commerce minister was reduced to addressing the media outside Parliament. He said allowing more FDI in retail would not only help farmers but also create jobs.
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