‘FDI a knee-jerk reaction’

Published: 16th September 2012 11:18 AM  |   Last Updated: 16th September 2012 11:18 AM   |  A+A-

Prime Minister Manmohan Singh has taken the decision to allow foreign direct investment in various sectors in a knee-jerk reaction to comments in an article published in the Washington Post recently, TDP chief N Chandrababu Naidu has said.

Talking with reporters at his residence here on Saturday, he said the Washington Post had strongly criticised the leadership and policies of Manmohan Singh.

He recalled a similar article published in the Time magazine from the United States.

Naidu demanded rollback of the diesel price-hike and the decision on FDI in different sectors.

"Those decisions are undemocratic and will lead to a crisis in society. It will have a direct impact on 1.25 crore retail traders and indirect impact on four crore people dependent on them."

He also flayed the decision to disinvest in four public sector units to raise money. "At any cost, the government should not privatise public sector units for raising funds. Such a decision will not yield the expected results but only expose its inefficiency which has been proven in the case of Manmohan Singh," he said and announced TDP's decision to join the nationwide hartal on September 20.

On the Assembly monsoon session commencing on Monday, the leader of the opposition said the government had no intention of discussing anything significant during the five-day session and it would be held as a mere technicality.

 Anyhow, the strategy his party would adopt in the session would be decided at the TDLP meeting to be held on Sunday, he said.

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