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Shri Narendra Modi opposed FDI in multi brand retail

FDI in multi brand retail will harm small shopkeepers, adversely affect domestic manufacturing sector and create joblessness: Shri Modi

Shri Modi has also severely criticized anti-people diesel hike and on the day UPA made this regressive announcement, Shri Modi announced relief measures for farmers

 

The decision to allow Foreign Direct Investment (FDI) in multi brand retail sector by the Congress-led UPA has been strongly opposed by Shri Narendra Modi. The Chief Minister has termed this move as anti-people.

Shri Modi said that allowing FDI in multi brand retail would mean immense harm to small shopkeepers, hit the domestic manufacturing sector and create joblessness. The Chief Minister added that this would also mean cheap good produced outside being dumped into our nation.

Since yesterday, Shri Modi has strongly opposed the diesel price hike and the decision to rationalize LPG cylinders per household. Infact, on the same day the UPA announced these regressive decisions, Shri Modi announced 100% relief on loans and 50% relief on electricity bills for farmers. This decision by Shri Modi has been hailed all over.

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Cabinet gives ‘in principle’ approval for disinvestment of Air India and five of its subsidiaries
June 28, 2017
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Cabinet gives ‘in principle’ approval for disinvestment of Air India and five of its subsidiaries 

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to fourth tranche recommendations of NITI Aayog on strategic disinvestment of CPSE (strategic disinvestment of Air India and five of its subsidiaries) based on the recommendations of Core Group of Secretaries on Disinvestment (CGD).

(i) ‘In principle’ approval for considering strategic disinvestment of Air India and five of its subsidiaries.

(ii) Constitution of an Air India-specific Alternative Mechanism headed by Minister of Finance including Minister for Civil Aviation and such other Minister(s) to guide the process on strategic disinvestment from time to time and decide the following:

  1. Treatment of unsustainable debt of Air India;
  2. Hiving off of certain assets to a shell company;
  3. Demerger and strategic disinvestment of three profit-making subsidiaries;
  4. The quantum of disinvestment; and
  5. The universe of bidders.