Power pact: 'Force' factor, 'communal forces' hand Mayawati over to Congress on retail FDI platter
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"Due to lack of resources, development cannot take place. So, developing nations have to take loans or depend on FDI. But there is a limit to the amount of loan a country can take. FDI then is the only other option. Many countries have taken the help of FDI to improve their economy," she noted.
However, she cautioned that FDI should be allowed with certain caveats.
"While one section and the government believe FDI will bring big benefits, those opposed say there will be big losses due to it. No decision should be taken in a hurry and without checking all aspects. Our suggestion to the government is to study its impact on Congress-ruled states, do a deep analysis and then proceed further," Mayawati said.
She pointed out that countries like Thailand and Malaysia invited FDI but the results were not very good and their economies suffered.
Mayawati said India needs to look into which sectors FDI should be allowed as it may have an adverse impact in some areas.
"Allowing FDI into India without any conditions will not be good for the domestic economy," she said, adding that her party is concerned about its impact on farmers, small businesses, labourers, factories, small traders and the like.
"There is an apprehension that due to FDI in multi-brand retail the small traders will suffer big loses and will lose their significance," Mayawati said.
The BSP supremo hit out at the government for claiming that FDI in retail will bring down prices of commodities.
"The wrong economic policies of the government have led to price rise and growing unemployment," she said.
She maintained that foreign multinational companies want to tap those markets which have maximum consumers.
Govt seeks to keep Mayawati in good humour ahead of FDI vote
With Mayawati voicing certain reservations over FDI policy in its present form, Government today sought to keep BSP in good humour by declaring its commitment to a Constitution Amendment Bill providing for promotions for SC/STs in government jobs.