NEW DELHI: The CPM on Thursday demanded the Congress-led UPA government operationalise its decision to allow FDI in multi-brand retail after the enquiry into Walmart's lobbying is over. The government would also have to wait for Parliament to dispose of amendments to FEMA made by the Reserve Bank of India before it can go ahead with FDI in retail.
The FEMA amendments that allow 51% FDI in multi-brand retail were tabled in the Rajya Sabha on Thursday. Two weeks ago, five amendments notified by the RBI between May and October were tabled in the Lok Sabha by Namo Narayan Meena, minister of state for finance.
"Why this gap of two weeks between tabling the FEMA amendments in Lok Sabha and Rajya Sabha?" asjed CPM Rajya Sabha MP Sitaram Yechury.
The government had earlier said it was enough to pass the notification in one house of Parliament. Opposition parties, especially the CPM, have been demanding a vote on the FEMA amendments.
Starting Thursday, the opposition in Rajya Sabha can move amendments or annulments within 30 sittings. "We will move for amendments and annulments, some now and some in the beginning of the budget session," said Yechury.
Under Section 47 of FEMA, 1999, the RBI can amend rules to allow FDI in retail. But, Section 48 of the FEMA says every rule and regulation made under this Act should be laid for consideration in each House of Parliament as soon as possible.
Once the amendments are tabled in the House, the members can move for their annulment or amendment.
Opposition members in Rajya Sabha though wanted the Chair to clarify if the time for tabling amendments in the upper house will be calculated starting Thursday.
"According to law, members have 30 days to move amendments. Will our time start from today?," asked Yechury.
Deputy chairman P J Kurien said Rajya Sabha proceedings will be as per law.
So, the amendments tabled in the House have to be disposed of through voting within 30 sittings. "Hence, the disposing off of any amendment can only take place in the next budget session of the Parliament. Thus, the government cannot legally operationalise this decision before these matters are settled during the budget session," the CPM said in an editorial in its mouthpiece, People's Democracy.
CPM against FDI rollout till Walmart probe is over
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CPM against FDI rollout till Walmart probe is over
