Press Esc to close

FDI receives RS thumbs up

New Delhi, Dec 7, 2012, DHNS: 1:29 IST
Commerce and Industry Minister Anand Sharma speaks during the debate on FDI in Rajya Sabha in New Delhi on Friday. Prime Minister Manmohan Singh is also seen. PTI
The government blunted all opposition to FDI in multi-brand retail with rivals Bahujan Samaj Party (BSP) and Samajwadi Party (SP) ensuring that the motion against inflow of foreign capital is defeated in the Rajya Sabha on Friday.

This paves the way for retail giants like Wal-Mart, Carrefour and Tesco to get a slice in the Rs 2,500-crore retail sector of the country. The government had won the first round in the Lok Sabha on Wednesday, following which the debate was taken up in the Upper House.

While the Mayawati-led BSP with 15 MPs voted in favour of FDI, the SP with nine MPs staged a walkout. Of the 244 members who were present in the Upper House on Friday, 123 voted in favour of FDI and 102 against it. Besides SP members, 10 other members did not participate in the voting.

The voting process suffered a few hiccups initially. After a few members complained that the electronic voting buttons were not working, paper ballot was called for. Some of the members who had voted electronically, voted again through paper ballot, prompting the Congress to demand recounting of the votes.

In the Lok Sabha, the SP and BSP had walked out before the voting. In the Rajya Sabha, the government required the BSP, which has more MPs than the SP, to vote in favour of FDI. The motion was moved by V Maitreyan of the AIADMK.

The Lok Sabha had also passed amendments to the Foreign Exchange Management Act, enabling operationalisation of 51 per cent FDI in multi-brand retail.

The government had asked all the nine nominated members – except Sachin Tendulkar who is playing the Kolkata Test against England – who were present, to ensure a majority in the Rajya Sabha.

Congress MP from Andhra Pradesh N Janardhana Reddy arrived in a wheelchair to vote while Janardhan Waghmare from Maharashtra was brought on a stretcher.

While Reddy entered the House to vote, Waghmare was allowed to vote in the lobby of the House. However, former Congress minister Murli Deora was absent as he recently underwent a surgery.

Immediately after the battle in the Rajya Sabha was won, Parliamentary Affairs Minister Kamal Nath said the government “will now push ahead more reforms.” Bills pertaining to the financial sector will be taken up in Parliament next week.

The government may now bring before Parliament major reforms bills out of the 25 draft legislation pending before it.

Some of the bills are the Banking Laws (Amendment) Bill , Companies Bill (Amendment) 2011, Insurance Laws (Amendment) Bill, Pension Fund Regulatory and Development Authority Bill, Coal Mines (conservation and development) Bill, 2012, Enforcement of Security Interest and Recovery of Debts Laws Bill, Prevention of Bribery of Foreign Public Officials and Officials of Public International Organisations Bill besides others such as the Central Universities Bill, Criminal Law Bill and National Accreditation Regulatory Authority for Higher Education Bill.

Go to Top

More from this section
Most trending stories
Photo Gallery
Argentinian football legend Diego Maradona during a football workshop at Barasat in North 24...

Argentinian football legend Diego Maradona during a football workshop at Barasat in North 24...

A view of the Kedarnath temple amid heavy snowfall, in Uttarakhund's Rudraprayag district ...

A view of the Kedarnath temple amid heavy snowfall, in Uttarakhund's Rudraprayag district ...

Prime Minister Narendra Modi waves to the crowd as he returns from Dharoi Dam in Mehsana district...

Prime Minister Narendra Modi waves to the crowd as he returns from Dharoi Dam in Mehsana district...

A man swims in the waters of the Arabian Sea amidst a flock of seagulls in Mumbai, India...

A man swims in the waters of the Arabian Sea amidst a flock of seagulls in Mumbai, India...

Painter Jagjot Singh Rubal makes a painting of Indian cricketer Virat Kohli and actress Anushka...

Painter Jagjot Singh Rubal makes a painting of Indian cricketer Virat Kohli and actress Anushka...

Congress President-elect Rahul Gandhi at a press conference in Ahmedabad, Gujarat on Tuesday...

Congress President-elect Rahul Gandhi at a press conference in Ahmedabad, Gujarat on Tuesday...

India's Bhuvneshwar Kumar bowls during a practice session on the eve of the second ODI cricket...

India's Bhuvneshwar Kumar bowls during a practice session on the eve of the second ODI cricket...

Bihar Chief Minister Nitish Kumar at Kataiya village during his 'Samiksha Yatra' to inspect...

Bihar Chief Minister Nitish Kumar at Kataiya village during his 'Samiksha Yatra' to inspect...

The ugraded Hubballi Airport, which was inaugurated on Tuesday...

The ugraded Hubballi Airport, which was inaugurated on Tuesday...

Indian cricket captain Virat Kohli with his actress wife Anushka Sharma during their wedding...

Indian cricket captain Virat Kohli with his actress wife Anushka Sharma during their wedding...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.