Prime Minister Manmohan Singh, defending the decision to allow FDI in the retail sector, said here on Saturday, “We have not taken this decision in haste, but after a lot of consideration. It is our firm conviction that the decision will benefit the country.”
“We believe that it will bring modern technology to the country, improve rural infrastructure, reduce wastage of agricultural produce and enable our farmers to get better prices for their crops. The differential that exists today between wholesale and retail prices will reduce and consumers will get commodities of daily use at reduced prices,” the PM said.
“As far as small retailers are concerned, the experience in some other countries suggests that both big and small retailers can easily coexist in a big country like ours... Apart from this, we have put some conditions so that FDI in retail promotes our small industry,” he added.
On the disruption of the two Houses, the PM said bringing Parliament’s work to a halt also reduces our and our country’s prestige. The government wants to enact many new legislations and amendments in many existing ones, he said, adding that his government wants to take these legislative matters speedily before Parliament.
“It is necessary that Parliament functions smoothly if we are to move ahead. But the Opposition parties are not allowing this to happen in the current session. Our government has always believed that whatever differences of opinion the Opposition parties have with us should be discussed and debated in Parliament. If we don’t do this, and create obstructions in the work of Parliament, we do injustice to the faith reposed in us by the people who have elected us as their representatives,” he said. The PM made it clear that the government is “still” hopeful of finding a say out of the current impasse and will continue efforts in this direction.
Drawing attention to developments in America, Western Europe and West Asia, he said the world economy is slowing down. The economic climate in America and the countries of Western Europe is having an adverse impact on most countries of the world, he said.