The Bharatiya Janata Party (BJP) said last week that it would rollback the United Progressive Alliance (UPA) government's controversial decisions on foreign direct investment (FDI) in multi-brand retail, hike in prices of fuel and cap on subsidised liquefied petroleum gas (LPG) if it comes to power in the 2014 general elections.
"Definitely, we will rollback these decisions in case we come to power in 2014. FDI in retail is not only against retailers but also against farmers," BJP leader Rajnath Singh said.
Opposing FDI in multi-brand retail, Singh said the decision would harm India because big multinational companies like Walmart buy 80 per cent of their goods from countries like China. "India will become a dumping ground of Chinese goods," said Singh.
He said that the UPA took the decision on FDI in multi-brand retail under the pressure of foreign countries which had been lobbying for it. All the logic and reasoning being given by the Congress on the FDI in multi-brand retail was wrong as the decision would ruin not only retailers but also farmers in the country, he said.
Singh also claimed that the centre increased the prices of fuel despite oil marketing companies making big profits.