FDI in defence is for BJP's own profit: Tariq Anwar

Nationalist Congress Party (NCP) leader Tariq Anwar today said that the increase in Foreign Direct Investment (FDI) in the defence sector is for Bhartiya Janta Party's (BJP) own profit.

Tariq Anwar told ANI, "There was a time when the BJP government had protested against FDI in retail. And now they themselves have put FDI into almost everything. So it is pretty much clear that when BJP is in power they have different outlook and when not in power its different."

"A national party should always think and work in favor of the nation and not for the benefit of their political party alone," he added.

While presenting the Union Budget, Finance Minister Arun Jaitley yesterday said that Foreign Direct Investment (FDI) will be sector specific and allowed wherever it is required in the national interest.

He also announced that the capital in defence FDI would be raised to 49 per cent from the previous 26 per cent.

He said urgent steps would also be taken to stream line the defence procurement process to make it speedy and more efficient.