Shillong, Sep 18- Stating that UPA II is a well tested government, Union Power Minister Veerappa Moily Monday said that the UPA government would not succumb to West Bengal Chief Minister Mamata Banerjee\u2019s pressure to roll back FDI in aviation or multi-brand retail.
\n“It is not a question of succumbing to this and that, but we are living with our democracy and no one can stop us from achieving development in the 11th plan and nobody can stop us now,” Moily told journalist.
\nMoily\u2019s statement assumed siginificance in the wake of the Trinamool Congress’ 72-hour deadline to roll back retail FDI and hike on petroleum products.
\n“It (Foreign Direct Investment in multi-brand retail) is a strong decision that we have taken and this is going to transform the entire economic scenario in India,” he added.
\nBanerjee government faces challenges on several fronts after the central government decided to allow up to 51 percent foreign direct investment (FDI) in multi-brand retail and raised diesel prices steeply.
\nAllaying that farmers and conseumers will affected by the FDI, the Congress leader claimed that consumers would be get competitive rates and farmers should get a matching price for their produce.
\nThe Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh – who had so far been accused of struggling with policy paralysis – cleared the major reform agenda a day after raising diesel prices by a steep Rs. 5 per litre and restricting the supply of subsidised cooking gas to households.
\nThis enraged the Trinamool, the United Progressive Allaince government’s second-largest constituent, which gave a 72-hour deadline to the Congress to rethink the decisions.
\nThe Trinamool, which is ruling West Bengal, took no time to call a meeting of its parliamentary party Sep 18. The meet will be attended by party supremo and Chief Minister Banerjee.<\/p>\n\n