FDI in Retail: Lok Sabha Approves, Rajya Sabha yet to vote

Image Credit: The Hindu

UPA government has won the vote on Foreign Direct Investment in multi-brand in Lok Sabha on Thursday. The motion opposing the FDI in retail was moved by the Leader of Opposition, Susma Swaraj.

The majority of the MPs in the Lok Sabha have voted in favor of the UPA governments economic reforms – FDI in retail. 253 MPs have voted against the motion while 218 supported it in the Lok Sabha on Thursday.

The issue of FDI in retail will as be debated and voted on Friday. Many leaders have expressed their concern over the FDI in retail, which might hurt the domestic retailers.The UPA government got the approval of the Lower House for its economic reforms to allow foreign retails to open their business in India.

The 51 per cent in FDI in multi-brand was supported by majority of MPs in Lok Sabha, while the BSP and BSP abstained from voting, opposing this move of UA government.However, the FDI in retail will yet to be decided in the Upper House, and this would a another acid test for the government to carry its economic reforms ongoing.