
The CPI-M on Wednesday denounced the government decision to allow 100 per cent FDI through the automatic route in single brand retail trade, warning this will have "harmful consequences" for domestic retail traders and shopkeepers.
Until now, Foreign Direct Investment up to 49 per cent was permitted under the automatic route.
"This step to liberalise FDI in retail trade will have harmful consequences for domestic retail traders and shopkeepers," a statement from the Communist Party of India-Marxist said.
"This measure indicates that the Modi government is moving towards allowing FDI in multi-brand retail trade," it added.
The CPI-M pointed out that the BJP, while in opposition, was opposed to the entry of foreign companies into retail trade. "Now being in the government, it has hypocritically reversed its position."
The CPI-M also strongly opposed the decision to allow foreign airlines to invest up to 49 per cent in Air India.
"Having taken the decision to privatise Air India, the Modi government is now moving towards handing over Air India to a foreign airline."
The CPI-M asked the government to heed the recommendation of the Parliamentary Standing Committee on Transport, Tourism and Culture which asked the government to review its decision on privatization of Air India and provide five years to revive the airline with its debt written off.
- Govt interfering in judiciary: Sharad Yadav
- Govt denial to elevate Justice Joseph to SC an 'unwarranted intrusion': CPI(M)
- Not elevating U'khand CJ to SC exposes PM's revenge politics: Congress
- Development our only agenda: PM tells Karnataka BJP workers
- PM Modi trying to take looters of Karnataka to assembly: Rahul
- Mamata thanks Stalin for supporting federal front
- PM reviews progress in resolving grievances of ex-servicemen
- AAP-LG tussle: Delhi Assembly Speaker complains to Mahajan
- Amit Shah meets RSS chief Mohan Bhagwat in Nagpur
- Shiv Sena flays Naidu's decision to reject CJI impeachment move
- Parliament not immune to casting couch: Renuka
- Congress' decision on impeachment motion was not correct: Mamata
- Modi protecting Reddy-led "Ballari gang", alleges Congress
- Congress hand stained with Muslims blood: Salman Khurshid
- Naidu acted in a hurried manner: Former LS Speaker Somnath Chatterjee
- Naidu order on CJI plea unprecedented, illegal; Cong to move court: Sibal
- Country may burn, but Modi only interested in becoming PM again: Rahul
- Rahul Gandhi to launch party's nationwide 'Save the Constitution' campaign
- Don't make irresponsible statements: Modi to BJP leaders
- Recall TN Guv Purohit, CPI(M) tells Prez Ram Nath Kovind
- CJI should consider recusing himself from performing judicial work: Congress
- Sitaram Yechury re-elected as CPI(M) general secretary
- Congress may move court if impeachment notice rejected, say party leaders
- Signs visible for joining hands with BJP, says AIADMK