Power pact: 'Force' factor, 'communal forces' hand Mayawati over to Congress on retail FDI platter
in its present form and suggested that the government do a "serious analysis" of its impact on the poor and the middle classe before implementing it.
Mayawati said her party is not against the idea of FDI as foreign loans and FDI were the two options through which a developing country can improve its economy.
"Due to lack of resources, development cannot take place. So, developing nations have to take loans or depend on FDI. But there is a limit to the amount of loan a country can take. FDI then is the only other option. Many countries have taken the help of FDI to improve their economy," she noted.
However, she cautioned that FDI should be allowed with certain caveats.
"While one section and the government believe FDI will bring big benefits, those opposed say there will be big losses due to it. No decision should be taken in a hurry and without checking all aspects. Our suggestion to the government is to study its impact on Congress-ruled states, do a deep analysis and then proceed further," Mayawati said.
She pointed out that countries like Thailand and Malaysia invited FDI but the results were not very good and their economies suffered.
Mayawati said India needs to look into which sectors FDI should be allowed as it may have an adverse impact in some areas.
"Allowing FDI into India without any conditions will not be good for the domestic economy," she said, adding that her party is concerned about its impact on farmers, small businesses, labourers, factories,
