Shourie remarks on FDI his own: BJP

Source : IBNS
Last Updated: Tue, Sep 25, 2012 06:31 hrs
Shourie remarks on FDI his own: BJP

India's main opposition Bharatiya Janata Party (BJP) distanced itself from senior leader Arun Shourie's remarks on the Congress-led United Progressive Alliance (UPA) government's wave of economic reforms and said his statement was 'his stand' not of the party.

"It may be his stand but not of the BJP. Based on the fact and the documents we can confidently say that because of FDI in retail India will lose its 400 billion dollar retail market to others. And also five crore people will be left unemployed," senior BJP leader Murli Manohar Joshi told media.

Speaking out in support of the UPA government's wave of economic reforms that have been strongly opposed by his party, Shourie heaved lavish praise on the Prime Minister.

Batting for much the controversial reforms, Shourie in Bhopal on Saturday said, "Increasing diesel prices was the need of the hour. Prime Minister Manmohan Singh has for the first time shown his strength."

Earlier, speaking to reporters he had openly supported the hike in diesel prices but said that the move to allow more foreign direct investment (FDI) in retail and aviation sectors were "neither here nor there" as they were only intended to send positive signals abroad.

The government on Sept 14 threw open doors to more foreign investment in India's retail, aviation and broadcast sectors, while also announcing disinvestment in four state-run industries in moves that were long seen as critical to revive flagging growth and confidence in Asia's third-biggest economy.

The reforms, the came just a day after the government also announced cut to its fuel subsidy bill by announcing hikes in diesel prices and a limit to the number of subsidised LPG cylinders sold to households, were met a huge political backlash from the Opposition and allies alike.

The moves also resulted in the pullout of West Bengal Chief Minister Mamata Banerjee-led Trinamool Congress (TMC) from the UPA, that sent the coalition government scrambling in search of support to establish a majority in Parliament.

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