August 7, 2014
Trinamool`s reaction to FDI in Railways and Defense
The Union Cabinet has approved up to 100% FDI in railways and up to 49% in defense sector.
Increasing FDI cap from 26% up to 49% in Defence Sector will put a big question mark on safety and security of the nation.
Where successive governments have been consciously avoiding FDI in Railways Sector for strategic and security reasons, the Central Government has, for the first time, now allowed up to 100% FDI in Railways.
I do not know what will be the fate and future of this country ???
For the last one week, the whole countryknows, what the status of FDI in insurance Bill is. The reality is, as much asthe Govt of India wants to move that Bill, and bring it in Rajya Sabha anddefeat the Bill, they cannot do it because the Bill will be sent to a SelectCommittee… because the majority of the members, about 150, do not want theBill to be voted on; they want it to go to the Select Committee.
But there is a hurry. There is a plane tocatch and bags to be packed in the middle of September because a trip has beenmade to America. So there is a hurry to bring FDi in Railways and Defense andstart the auction of India, to sell India. They say once you bring FDI in India,all of India's problems will be taken away.
Let me use this opportunity to tell youabout 2008 Sir. By the way, 32 States in the United States of America do notallow FDI in Insurance. Why are we so excited about it? In 2008, US Govt had tobail out a private insurance company, because they went down the chute, with 80billion dollars.
They are coming here. We are giving them afree market. We have put up some sales signs. This is not the way to go Sir. Thisis not the way to go. FDI is not the solution for all problems. FDI is ForeignDirect instruction. It is Foreign Direct Intrusion.
For the last ten years, the former Govt andthe current Govt were playing relay – passing the parcel. The result of thatwas seen. The Govt came down; the Congress party – unfortunately for them -came down to 44. Those people, we thought, were in fourth gear. This is infifth gear. They are on an overdrive. They want to go faster to catch the planein September.
This is a very serious issue Sir. No to FDIin insurance, defense and railways. Don't sell our country.
Thank you.
