New Delhi, Nov. 28 (ANI): With both the Lok Sabha and the Rajya Sabha not being able to function properly over the last five days following the decision on Foreign Direct Investment (FDI) and the spiralling prices of essential commodities, the government is likely to hold an all-party meeting here on Tuesday to end the logjam in Parliament.
According to reports, the government is expected to chalk out the strategy for the smooth conduct of the Winter Session.
Both Houses of Parliament were today adjourned till Tuesday with the opposition expressing strong resentment against the government's decision to allow 51 per cent FDI in multi brand retail.
Last Thursday, the Cabinet approved 51 percent FDI in multi brand retail, As per this move, many global retailers like Wal-Mart, Carrefour and Tesco can open outlets in India.
The Cabinet also decided to remove the 51 per cent cap on FDI in single brand format under which companies in food, lifestyle and sports business run stores. Owners of brands like Adidas, Gucci, Hermes, LVMH and Costa Coffee can have full ownership of business in India.
Foreign Direct Investment (FDI) or foreign investment refers to the net inflows of investment to acquire a lasting management interest in an enterprise operating in an economy other than that of the investor.
It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. It usually involves participation in management, joint venture, transfer of technology and expertise. (ANI)
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