FDI in retail & aviation: Is Congress trying to sound bold & tougher with FRIDAY REFORMS!!
The recent times have proved turbulent in the smooth applecart of
Congress led UPA-2. It wasn't the usual opposition that congress was
busy fighting with but even its allies have proved fatal in its smooth
sail. Neverthless to mention were the high times when western media
started painting the show off head of UPA Mr. Manmohan Singh as silent
PM to tragic leader (and many more). But all of a sudden, the lion in
his name (Singh in Hindi means Lion!) looks rising! Or perhaps the
recent developments speak so. Cabinet has atlast approved Foreign
Direct Investment (FDI) in retail sector after much debate in last
months and parliament sessions. If all the news is to be believed then
congress is in fighting mode to get rid from all the shame is has been
accumulating from inside and out of nation. And 51% FDI in retail
certainly is bold and daring step of current Government of India.
Sleek diesel price hike in the morning and FDI in retail, aviation are
all signs of this bold trait congress is destined to portray in
future. Some eventually might look at it as 'election stunts' but
nobody could deny that country's economy was in quite need of such
bold but risky to applecart steps. Keeping in eye all recent
skirmishes government was facing recently from coal block allocations
to blames of policy paralysis. Government on friday best proved its
intentions of acting tough by going its way. Cabinet Committee of
Economic Affairs took some major decisions to end UPA's policy
paralysis and turned this friday truly into 'Reform Friday'.
It wasn't just 51% Foreign Direct Investment (FDI) in multi-brand
retail stores but in another major decision, the government also
cleared FDI in aviation by foreign carriers, which was well
acknowledged as most of the airlines were on their way to bankruptcy.
This certainly will provide them certain boost. If sources are to be
believed then Dubai based Emirates is keen to expand its base in
Indian aviation market. On other mentionable notes, cabinet has raised
the FDI cap on various streams of broadcast services by up to 74%. The
government also approved sale of its minority stakes in four public
sector firms — Hindustan Copper, Oil India, MMTC and Nalco — to raise
up to Rs15,000 crore.
Prime Minister Manmohan Singh said at the meeting that the time had
come for big bang reforms. "If we have to go down, we have to go down
fighting," he said. And the response thats pouring in over all this
'big Friday reforms', speak clearly of that upcoming fight! With most
business tycoons and economists happy over FDI in retail, its own ally
TMC headed by fireband leader Mamata Banerjee has hoisted the flag of
opposition. Walking the extra mile as always the key ally has given 72
hours deadline to congress to roll back diesel price hike and FDI in
retail. What would be interesting to watch is, how congress going to
act over all this politics of reforms! Most of the middlemen on the
other hand certainly would be at receiving end as FDI in retail would
curtail their wicked intentions giving farmers their dole of bread
much easier than ever. If FDI in retail is going to provide consumer
with world class product in little lower price as of today, then FDI
in aviation would certainly cut short the passenger fares. Whatever be
the reforms or counter arguments, government certainly is in revamping
mood to reinvent itself. Though this repairs were necessary to run the
UPA2 apple cart, fighting opposition of its own key allies would prove
fatal at times like this when its at receiving end on every other
issue which ranges from corruption to scams of gigantic heights.
What is most amazingly interesting is the way congress has rolled out
this reforms. Giving right of final call on FDI in retail to state
governments, congress again has displayed its vividly clad
intelligence. In its own way it has fired the bullet of FDI in retail
onto states and got relieved! Now the task of accomplishing it rests
upon state goverments. Only the congress led states are believed to
allow this arrangement of retail business and test their luck while
opposition ruled states will look for all the high voltage drama to
unfold slowly!! May be thats where democratic setup loose its lustre
and federal structure starts gleaming!!? Only time will tell... But
you guys don't forget to post your valued views...
Congress led UPA-2. It wasn't the usual opposition that congress was
busy fighting with but even its allies have proved fatal in its smooth
sail. Neverthless to mention were the high times when western media
started painting the show off head of UPA Mr. Manmohan Singh as silent
PM to tragic leader (and many more). But all of a sudden, the lion in
his name (Singh in Hindi means Lion!) looks rising! Or perhaps the
recent developments speak so. Cabinet has atlast approved Foreign
Direct Investment (FDI) in retail sector after much debate in last
months and parliament sessions. If all the news is to be believed then
congress is in fighting mode to get rid from all the shame is has been
accumulating from inside and out of nation. And 51% FDI in retail
certainly is bold and daring step of current Government of India.
Sleek diesel price hike in the morning and FDI in retail, aviation are
all signs of this bold trait congress is destined to portray in
future. Some eventually might look at it as 'election stunts' but
nobody could deny that country's economy was in quite need of such
bold but risky to applecart steps. Keeping in eye all recent
skirmishes government was facing recently from coal block allocations
to blames of policy paralysis. Government on friday best proved its
intentions of acting tough by going its way. Cabinet Committee of
Economic Affairs took some major decisions to end UPA's policy
paralysis and turned this friday truly into 'Reform Friday'.
It wasn't just 51% Foreign Direct Investment (FDI) in multi-brand
retail stores but in another major decision, the government also
cleared FDI in aviation by foreign carriers, which was well
acknowledged as most of the airlines were on their way to bankruptcy.
This certainly will provide them certain boost. If sources are to be
believed then Dubai based Emirates is keen to expand its base in
Indian aviation market. On other mentionable notes, cabinet has raised
the FDI cap on various streams of broadcast services by up to 74%. The
government also approved sale of its minority stakes in four public
sector firms — Hindustan Copper, Oil India, MMTC and Nalco — to raise
up to Rs15,000 crore.
Prime Minister Manmohan Singh said at the meeting that the time had
come for big bang reforms. "If we have to go down, we have to go down
fighting," he said. And the response thats pouring in over all this
'big Friday reforms', speak clearly of that upcoming fight! With most
business tycoons and economists happy over FDI in retail, its own ally
TMC headed by fireband leader Mamata Banerjee has hoisted the flag of
opposition. Walking the extra mile as always the key ally has given 72
hours deadline to congress to roll back diesel price hike and FDI in
retail. What would be interesting to watch is, how congress going to
act over all this politics of reforms! Most of the middlemen on the
other hand certainly would be at receiving end as FDI in retail would
curtail their wicked intentions giving farmers their dole of bread
much easier than ever. If FDI in retail is going to provide consumer
with world class product in little lower price as of today, then FDI
in aviation would certainly cut short the passenger fares. Whatever be
the reforms or counter arguments, government certainly is in revamping
mood to reinvent itself. Though this repairs were necessary to run the
UPA2 apple cart, fighting opposition of its own key allies would prove
fatal at times like this when its at receiving end on every other
issue which ranges from corruption to scams of gigantic heights.
What is most amazingly interesting is the way congress has rolled out
this reforms. Giving right of final call on FDI in retail to state
governments, congress again has displayed its vividly clad
intelligence. In its own way it has fired the bullet of FDI in retail
onto states and got relieved! Now the task of accomplishing it rests
upon state goverments. Only the congress led states are believed to
allow this arrangement of retail business and test their luck while
opposition ruled states will look for all the high voltage drama to
unfold slowly!! May be thats where democratic setup loose its lustre
and federal structure starts gleaming!!? Only time will tell... But
you guys don't forget to post your valued views...
Comments
Post a Comment