FDI would be scrapped if NDA is voted to power: Joshi

Training his guns at the UPA, Joshi said as per a Transparency International report, FDI failed in five countries in which it was introduced earlier and added that it was not going to benefit small traders and farmers.

He told reporters last evening that Foreign Direct Investment (FDI) would be scrapped if NDA was voted to power in 2014 general elections.

Joshi alleged that the Walmart balance sheet said that the company has spent Rs 5.3 crore dollars to educate Indian politicians and claimed that this money was given to allow FDI in retail in the country.

Joshi said that due to the opposition of BJP, FDI was not introduced in the insurance sector and rejected the Centre's theory that FDI would enhance sale in fruit and cereals by 40 per cent but said that it would increase sale only by a thin margin of five to seven per cent.

Asked why the BJP proposal against FDI was defeated in Lok Sabha and Rajya Sabha, he said in both houses most of the members spoke in our (BJP) support but they did not vote for us due to personal gains.