Press Esc to close

FEMA amendments on FDI tabled in Rajya Sabha

NEW DELHI,Dec 13, 2012, DHNS : 1:52 IST
The Government on Thursday tabled amendments to the Foreign Exchange Management Act (FEMA), 1999, which will enable FDI in multi-brand retail.

The amendment, which was tabled in the Lok Sabha 10 days ago, will now give members of the House 30 working days from Thursday for moving amendments. CPM leader Sitaram Yechury wanted Deputy Chairman P J Kurien to clarify on the time the members would get for amendments.

“I want to know whether those 30 days begin from today (Thursday). In the Lok Sabha, it began two weeks earlier,” said Yechury.

“As far as this House is concerned, we are concerned with the date on which it is placed here,” said Kurien.

Yechury has already indicated that his party will try to delay the implementation of FDI in retail through parliamentary procedures. The CPM’s strategy would be to move amendments just before the expiry of 30 days’ time. It will, they say, delay the implementation for another 30 working days. So, it could go up to the Budget session, Yechury told reporters a few days ago. CPM MP P Rajeev raised Wal-Mart lobbying issue during zero hour and alleged that Patton Boggs lobbied both for the Government of India and Wal-Mart.

“Patton Boggs is a double agent for lobbying for the Indian Government in the US and for Wal-Mart in our country,” said Rajeev. “Patton Boggs, one of the lobbying firms that represented the global retail chain, was hired by the Indian Embassy in the United States in 2008 to help clinch the Indo-US nuclear deal,” he alleged.

Go to Top

Most trending stories
Photo Gallery
Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Sunset in Bengaluru on Wednesday...

Sunset in Bengaluru on Wednesday...

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.