Less than a week before the winter session of Parliament, which starts from Thursday, the United Progressive Alliance (UPA) government today tried to defend itself on a number of fronts that the Opposition had lately been trying to corner it on, particularly the opening of multi-brand retail to foreign direct investment (FDI) with a cap of 51 per cent.
The government fielded its three prominent players — Finance Minister P Chidambaram, Communications Minister Kapil Sibal and Information & Broadcasting Minister Manish Tewari — to allay the fears clouding the Manmohan Singh rule, defend the government decision on FDI in multi-brand retail and present positive sides of the Indian economy amid sliding global growth.
Even as the Left parties today announced their decision to move motions entailing voting, the government said the treasury benches were prepared to face any debate on FDI in multi-brand retail, including a no-confidence motion. Pointed out the Opposition was gearing up to target the government on the FDI issue, Tewari said: “We are ready to discuss anything if the rules permit.”
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He said the government would discuss the reported no-confidence motion to be tabled by former ally Mamata Banerjee only when it formally comes.
Given the lukewarm response to the recent 2G spectrum auction, they sought more space in policy making.
The government representatives said the UPA regime would last its full term, even as the Samajwadi Party (SP) released a list of 51 candidates for the next Lok Sabha elections. CPI(M) leader Sitaram Yechury said the Congress would go for early elections to “cut losses”.
Downplaying the FDI issue, Chidambaram said: “My suggestion is that not one issue should be blown out of proportion.” He said the winter session had a very heavy legislative agenda for the welfare of people and the future of the country.
Sibal said the poor response to the recent 2G auction — in which the government was able to fetch only Rs 9,407 crore of the targeted Rs 40,000 crore — had again shown that policy making should best be left to the government.
Though the spectrum auction has been lacklustre and disinvestment — the target from which is to raise Rs 30,000 crore — has yet to yield any revenue, Chidambaram has expressed hope that the Centre will still be able to meet the revised fiscal deficit target of 5.3 per cent of GDP for this financial year.
Admitting that the global economic conditions were challenging, Chidambaram said he was confident of a pick-up in growth in the third and fourth quarters of this financial year, from 5.5 per cent in the first quarter.
Allaying concerns around the next Union Budget, which would be for an election year, Chidambaram said it would be fairly reasonable.
Meanwhile, UPA carried forward its dinner diplomacy with allies to keep its flock together in the wake of the Dravida Munnettra Kazhagam (DMK) giving mixed signals.
Prime Minister Manmohan Singh today hosted a dinner for UPA leaders in a bid to firm up a joint strategy on various issues that were likely to be raked by the Opposition. He had earlier met SP and the Bahujan Samaj Party (BSP) heads for lunch.
The PM is likely to meet leaders of the Bharatiya Janata Party before leaving for Cambodia on Sunday.
SP, BSP and DMK have also opposed the government’s decision on allowing FDI in multi-brand retail.
