SC asks: Has FDI led to investments or is it a gimmick?

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Utkarsh Anand: New Delhi, Jan 23 2013, 01:55 IST

as far as their trade is concerned? Some regulatory measures have to be there to ensure that they (small traders) are not affected,” it said.

Vahanvati tried to reason that this was not the issue under consideration of the court, and that this was a policy decision taken after necessary amendments in the RBI rules and a vote in Parliament.

“We are not policy makers but it is also not correct that policy has to be sacrosanct every time. It can be examined within the Constitutional parameters. We don’t substitute government policy but some regulatory norms have to be there. The apprehension is that these (big) companies can artificially reduce the price which the small traders cannot afford to do,” the court said. “These apprehensions have to be cleared.”

The court asked the Attorney General to file an affidavit within three weeks addressing issues relating to farmers’ interests. While posting the matter after five weeks, it also asked PIL petitioner advocate M L Sharma to respond to the Centre’s affidavit.

The PIL had challenged a government circular issued on September 20, allowing FDI in multi-brand retail, contending it had no legal sanctity since the RBI had not brought about the required amendments in the 2000 regulation as per the Foreign Exchange Management Act.

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Reader's Comments (2)| Post a Comment

The observation of SC is just

Dr.M.M.HAZARIKA PhD | 23-Jan-2013Reply | Forward

So long any scheme that is implemented produce a positive effect within the System where we are living-in;such steps are always welcome but if one intends to follow the others just to become similar; ignoring the culture of the Nation which we have enforced within us to build in our Blood,we shall surely land into more complex situations rather than offering a help to the Common Public to grow with time. Except TATA,we have possibly produced no additional Brand Name through putting of hard work which is targeted toward the GOOD of the PUBLIC.It was not because,we prefer leisure over hard work but due to our desire to amass wealth through adopting easy ways without putting any labor whatsoever that worth its name to say so. Therefore we find that the COMMENT passed by the Most Respectful SC is just and fair while telling us to apply our minds in discharging our duties for the GOOD of the Nation and not work reverse to kill its identity.There is no substitute for HARD WORK.

Only SC Working???????????????

Citizen | 23-Jan-2013Reply | Forward

This clearly shows only SC is working in this country EVERY TIME WHEN THIS PARALYTIC GOVERNMENT TAKES ACTION WITH OUT BOTHERING THE COUNTRY'S INTEREST OR THE COMMON MAN'S INTEREST THE ONLY ENTITY THAT WORKS IS SC. EVEN IN SCAMS IT IS THE SC THAT WORKED KEEP IT UP FOR THE SAKE OF BHARATH AND SPEED IT UP THE JUDGEMENTS PLEASE. KUDOS JAIHIND