PM dismisses jobs scare over FDI
05 Nov 2012
Dismissing opposition suggestions that FDI would take jobs away from people, prime minister Manmohan Singh said, FDI in retail was primarily required in bigger cities.
He added, other countries had progressed after introduction of FDI in retail.
Referring to economic reforms initiated in 1991 when he was finance minister, Singh said this was not the first time that the country had brought in foreign investment. He said it had been done before and the country was now reaping its benefits.
On oil prices, the prime minister said India imported 80 per cent of the petroleum products. He added that the government had taken steps on prices of petroleum products.
He added, the decision was for the betterment of the people, adding that the government wanted the farmers to be happy and prosperous.
The prime minister was addressing a rally organised to give a push to the UPA government's economic agenda ahead of the 2014 general elections and counter its detractors, especially in the wake of several corruption scandals. The rally was held at Ramlila Maidan in the capital yesterday.
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