SME Times is powered by   
Search News
Just in:   • President roots for lower, acceptable, stable interest rate  • Textiles Minister asks ATIRA to devise a scheme for benefit of SMEs  • Trump sworn-in; Modi, Mukherjee congratulate new Prez of US  • MSME Ministry signs MoU with IORA member countries  • China GDP falls to 26-year low 
Last updated: 10 Dec, 2012  

Walmart.9.Thmb.jpg Opposition wants Wal-Mart lobbying reports clarified

Walmart.9.jpg
   Top Stories
» President roots for lower, acceptable, stable interest rate
» Textiles Minister asks ATIRA to devise a scheme for benefit of SMEs
» Trump sworn-in; Modi, Mukherjee congratulate new Prez of US
» MSME Ministry signs MoU with IORA member countries
» 'India can boost exports by $5.5 bn by cutting trade costs'
SME Times News Bureau | 10 Dec, 2012
Opposition parties in the Rajya Sabha Monday demanded a clarification on reports of Wal-Mart lobbying in the US to open the way for foreign equity in retail trade in India.

Raising the issue during zero hour, Bharatiya Janata Party (BJP) leader Ravishankar Prasad quoted newspaper reports on a lobbying disclosure report submitted by retail giant Wal-Mart in U.S., and said that since lobbying is illegal in India, this was a case of bribery.

"There was a long debate on FDI (foreign direct investment) in retail. All major newspapers today have reports that Wal-Mart, in its lobbying disclosure report, has said Rs.125 crore was spent on lobbying," Prasad said.

"In 2012 alone, they spent US$ three million in India. Lobbying is illegal in India. This is a case of bribery," he said.

The opposition member demanded halting the decision to allow FDI in retail and initiation of an inquiry into the case.

He was joined by members from other opposition parties, including the Left and Trinamool Congress.

Minister of State for Parliamentary Affairs Rajeev Shukla then said he would convey the matter to the minister concerned.

The irked opposition, though, continued shouting and demanding a clarification, forcing Deputy Chairman P.J. Kurien to adjourn the upper house briefly for 10 minutes.

Last week, the decision to allow FDI in retail was put to vote in both houses of parliament, and passed.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
68.65
67.00
UK Pound
86.50
83.75
Euro
72.45
70.00
Japanese Yen 58.75 56.85
As on 21 Jan, 2017
  Daily Poll
Do you see a corporate tax cut in coming Budget?
 Yes
 No
 Can't say
  Commented Stories
» Reforms hold key to growth(20)
» Starting an import export business: Basic guide for beginners(4)
» 'Worse is yet to come'; Manmohan takes on Modi(3)
» Will India and China fight a war again?(1)
» Govt mulls 'Online Udyog Aadhaar Form' to ease SME registration(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter