Will scrap FDI in retail if elected in next polls: Joshi

Senior BJP leader Murli Manohar Joshi has said that the National Democratic Alliance will scrap FDI in retail if elected in the 2014 general election. He said that as per a Transparency International report, FDI failed in five countries in which it was introduced earlier and added that it was not going to benefit small traders and farmers.

He said that due to the opposition of BJP, FDI was not introduced in the insurance sector and rejected the Centre's argument that FDI would enhance sale of fruit and cereals by 40 per cent. "It would increase sale only by a thin margin of five to seven per cent," he said.

Asked why the BJP proposal against FDI was defeated in both the Lok Sabha and the Rajya Sabha, he said that in both the Houses most members spoke in support of BJP but did not vote for against FDI due to "personal gains".

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