FDI voting

FDI voting

Foreign Direct Investment has kept UPA on tenterhooks this year. UPA long back took a decision and permitted 52 per cent of foreign stake in Indian retail sector. This decision has been vehemently criticised by the opposition parties and opposition leader of the Lok Sabha, Sushma Swaraj moved a petition seeking cancellation of Foreign Direct Investment in Indian retail sector.

The Congress party supported its decision and appealed to all its MP s to attend the Lok Sabha and vote for foreign direct investment. Some of its allies were opposed to the decision. In fact Trinamool Congress (TMC) withdrew support to UPA over FDI. UPA was apparently not so confident of winning FDI vote in the parliament. It was for the same reason that MP s from Telangana region were entertained and their demands were accepted (to convene an all party meeting).

In Lok Sabha, total number of MP s were 545 while 471 members were present at the FDI voting and 29 members were absent including TDP MP s. As many as 253 MP s voted against the motion that opposed FDI in retail sector while 218 voted in favour of the petition on December 4. While 22 members of BSP and 21 members of SP who were opposed to FDI walked out of the house minutes before FDI voting that apparently made a big difference, argued observers. In Rajya Sabha too UPA won the FDI vote, which made Manmohan sarkar victorious in the implementing foreign direct investment in retail sector.