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'Attorney general misinformed Supreme Court on FDI'

Source : IANS
Last Updated: Wed, Jan 23, 2013 13:20 hrs

New Delhi, Jan 23 (IANS) Attorney General of India Goolam E. Vahanvati misinformed the Supreme Court on FDI in retail, the Confederation of All India Traders (CAIT) said here Wednesday.

"In a hearing held Tuesday, the attorney general said that parliament had debated and passed the matter related to foreign direct investment (FDI) in retail. However, amendments to the Foreign Exchange Management Act are yet be passed by parliament, which is a precondition to FDI in retail. He has misinformed the apex court," CAIT national general secretary Praveen Khandelwal said at a press conference.

"How can he say that parliament has approved the policy decision," asked Khandelwal.

Talking to reporters, Khandelwal said the apex court Tuesday raised some pertinent questions over how the government would protect the interests of small traders of the country.

He also questioned why the government sidelined constitutional provisions to bring FDI in retail.

The Congress-led UPA government in September last year announced 51 percent FDI in multi-brand retail in the face of massive opposition from most political parties and traders.




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