Press Releases Archive

Dr. JP welcomes FDI in Retail sector

Lok Satta Party President Dr. Jayaprakash Narayan has said the Union Government move to permit foreign direct investment in the multi-brand retail sector is “great news and long overdue”. It will benefit the farmer and the consumer, and stimulate the economy, Dr. JP said in a media statement issued here today.

The Union Cabinet is expected to approve the note prepared by the Department of Industrial Policy and Promotion (DIPP) on allowing 51 percent FDI in the retail sector. The Union Finance Ministry has cleared the proposal.

Dr. JP said the fears that foreign retail chains will displace grocery stores and street vendors are misplaced. Experience the world over shows that foreign retail chains did not displace mom & pop stores.

“Retail trade grows faster than the economy in early stages. The new business goes to retail chains, leaving traditional vendors their share.”

Dr. JP recalled that sections of employees had opposed computerization of banks for decades saying it would lead to large-scale displacement of employees. “Now we know these fears had no basis.”

Dr. JP pointed out that under the present dispensation the farmer gets a low price for his produce even as the consumer pays a high price. Both the farmer and the consumer will gain with the advent of multi-brand retail chains.

“Now a farmer gets Rs.18 a kg for the rice he produces while a consumer pays Rs.30 – 35 a kg. A farmer gets only 35% of the consumer price of vegetables & fruits.

“Retail chains will remove middlemen, add value, eliminate wastage and shortages, ensure stable prices and help farmers and consumers. Let us shed fears and welcome FDI in the retail sector.”

Sunday, November 20, 2011 - 17:46

TN Lok Satta confident of Transforming politics

Tamil Nadu Lok Satta Party leaders today oozed confidence of bringing about a metamorphosis in Tamil Nadu politics in the next few years as the people are thirsting for a change in the dynastic and corrupt regimes in the State.

They were addressing media at the Lok Satta Party headquarters here. Lok Satta Party State Working President D. V. V. S. Varma and General Secretary Katari Srinivasa Rao took part in the media conference.

The leaders, who are in Hyderabad on a three-day study visit to the party headquarters, recalled that most of the party activists in Tamil Nadu are aged below 35 years and hailed from the middle class with no political pedigree. The party which contested the Tamil Nadu Assembly and local body elections found that people were looking forward to an alternative to the deeply entrenched DMK and the AIAMK parties.

The Lok Satta with its slogan of new politics for a new generation is hopeful of providing the alternative in the next few years. All those who contested the elections have made it a point to work as people's ambassadors by identifying their pressing problems and addressing them. They said their interaction with Lok Satta Party leaders in Andhra Pradesh would help them build a strong organization in Tamil Nadu.

The Tamil Nadu leaders underlined that although no new elections are round the corner in their State they are determined to build up the party and emerge as an alternative to traditional parties in the next few years. They said their in-depth study of the working of the Lok Satta in Andhra Pradesh is highly beneficial.

Among those who addressed the media were Ashok Kumar, Jagadeesh, Ravi Chandran, Senthil Arumugam and Vijay Anand.

Saturday, November 19, 2011 - 22:04

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