FDI in retail will benefit common man: PM

In his address to the Congress Party rally November 4, 2012, the Prime Minister of India, Dr. Manmohan Singh, struggled to convince the people of India on the benefits of FDI in multi-brand retail. But the arguments put forth by him in favour of FDI proved as fallacious and unconvincing, besides being travesty of truth. Consequently, the opposition has hit out at the Prime Minister over his address to the nation saying that he was “misleading” the country on FDI in multi-brand retail and appeared to be advocating interests of other countries while trying to “defend the indefensible”. In conclusion, allowing 51 percent FDI in multi-brand retail is an unwise and an anti-people decision; it requires to be definitely annulled. Nevertheless during his period as Prime Minister, Dr.Singh is reported to have failed to curb various scams, sandals and frauds perpetuated by crony capitalists and greedy bureaucrats. As a result, resources of the country have been looted by crony capitalists with the active support of corrupt politicians and connivance of bureaucrats. The country is reported to have lost lakhs of corers of rupees, which could have been used to promote investment and provide welfare measures to the down-trodden people. The criticism is that Dr.Singh has been keeping silence over the organised looting. But many believe that he was not a silent spectator, but an active participant in the scams, particularly in the “coal-gate scam” which has caused a loss of about Rs. 1.86 lakh crore to the exchequer and involved thousands of crores as bribe to politicians and bureaucrats. Reports show that the Prime Minister’s Office has definite role in the scam. By notifying the decision to allow 51 percent FDI in multi-brand retail trade much against the sentiments and wishes of almost all political parties, the entire trading community, and, of course, the vast majority of the people of the country, Dr.Singh has skillfully diverted the attention of the people from the ill-famous coal gate scandal, which involved a loss of about Rs.1.86 lakh crores to the exchequer, besides thousands of crores as bribe.Dr.C.Murukadas, The Times of India, Nov. 4, 2012