FDI in retail: CPM to force a vote on FEMA amendments
“We shall move an amendment. The current deals that the Congress leadership is making with other parties are a sheer waste as there is no way it can avoid a vote over FDI,” said CPM parliamentary party leader and Politburo member Sitaram Yechury on Tuesday.
He said the RBI amendments were notified through a gazette of India on October 30. “Section 48 of the FEMA requires that these amendments are tabled in Parliament as soon as possible,” he said. As per the convention, the expression “as soon as possible” implies it is done before the 15th sitting of the session which follows the notification. “This means by December 13. The amendments have to be considered by Parliament within 30 days of being tabled,” Yechury said.
Earlier this month, when the SC said it would not interfere in policy decisions, advocate Manohar Lal Sharma, who had challenged the gazette notification, had expressed his apprehension that the government may not place the amendments before the House for its approval as per Section 47 and 48 of FEMA.
However, Justice R M Lodha had told the petitioner, “Why do
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