BJP slams Congress for 'double standards' on FDI

BJP slams Congress for 'double standards' on FDI

Alleging that Congress has been following double standards on FDI policy, BJP today said the party leading the UPA has no moral right to seek the support of the Opposition and the nation for its so-called reforms.

The Congress had opposed foreign investment in retail during the NDA regime and it was also against raising the FDI cap in insurance to 49 per cent.

But now it is seeking support of the Opposition and the nation on these issues to suit its opportunistic politics, senior BJP leader M Venkaiah Naidu told reporters here.

"It (Congress) opposes while in Opposition and proposes while in power," he said, adding allowing FDI in multi-brand retail and raising foreign investment cap in insurance shows sheer "double standards of the ruling party".

Referring a letter written on December 21, 2002 by Manmohan Singh, then Leader of Opposition in Rajya Sabha, to Federation of Associations of Maharashtra (FAM), Naidu claimed the Congress had then opposed FDI in retail sector.

"The matter (FDI in retail) was raised in Rajya Sabha two days ago and the Finance Minister has given an assurance that there was no proposal before the Government for permitting FDI in retail trade," the former BJP President quoted Singh as saying in the letter.

The Congress and Prime Minster Manmohan Singh should now explain how it has become necessary to allow foreign players in the retail sector, Naidu maintained.

Replying to a query, he said the main Opposition party would take a final stand on hike in FDI limit in insurance keeping in mind the interest of the country and after finer details of change in the policy are known.