Akhilesh rules out retail FDI in UP

The UPA government yesterday allowed 51 per cent foreign direct investment in multi-brand retail.

“Samajwadi Party’s view is very clear on the FDI issue and it will not implement it in Uttar Pradesh,” Yadav said.

Denying that there was a proposal to open such stores in the state,he said,“But the question is,what will happen to the stores already opened. BSP government implemented it (FDI in retail) and opened new stores. But Samajwadi Party is not in favour of opening new stores.”

Asked whether people came to meet him with these proposals,he said those were only courtesy calls from investors.

“Whoever came to meet,it was just a courtesy call. They came just to congratulate us. As far as business is concerned,they said they want to bring in investment and want the government cooperation for this,” Yadav said.

On whether Samajwadi Party is planning to take its support back from the UPA government on the issue of hike in diesel price and FDI,he said any such decision rests with the party’s nation leadership.

“Only the party president will decide how the support will continue. It has been asked several times but Samajwadi Party will always provide support to counter communal powers in the country,” he said.

Yadav said his party will support a proposal for FDI in the field of electricity and roads.

“If they want to bring FDI,we want them to bring it in the fields of electricity and roads. But if it is introduced in retail sector,what will happen to our small shop owners,” he said.