Before FDI vote, govt faces FEMA rules roadbump

Comments print
PranabDhalSamanta: New Delhi, Nov 30 2012, 02:44 IST
Setting the stage for the vote on FDI in retail, the government on Thursday gave notice in Parliament that it would table the RBI’s amendments to the Foreign Exchange Management Act rules in both Houses on Friday.

The amendments are necessary to enable the government to notify the policy on FDI in retail, a segment in which trade is restricted under FEMA rules. The Left has already decided to move a statutory resolution against these amendments which, once admitted, would automatically involve a vote.

Unlike the discussion under Rule 184, losing the vote on this would turn the notification on FDI in retail invalid. In purely technical terms therefore, this vote carries much more weight — a point that the Left has been trying to make over the past few days.

According to reliable sources, the government will now look to combine this vote with Rule 184 in a manner that there is voting only once in each House, and call it a political vote, not a vote on FDI in retail.

Government sources admitted that there was no escaping a vote right from the start, but it was important to first get its flock of supporters together. The Congress’s message to the Uttar Pradesh parties, especially the SP, is to treat this as a vote for or against the BJP — and not as just a vote on FDI in retail.

The Congress is more confident about the BSP after the SC/ST quota in promotions Bill was listed for discussion in Rajya

... contd.

Ads by Google
   1 | 2 | 3 | Next
Previous Story  DU rejects students’ plea for ‘special chance’ Next Story  Northern Railway to bring out a timetable for special trains
Reader's Comments| Post a Comment

Be the first to comment.

Post your Comment

Your email address will not be published. Required fields are marked *

Name *
Email *
Message *
 
captcha
please enter the above characters in the box below