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RSS affiliate Bharatiya Mazdoor Sangh opposes FDI reforms, want government to reconsider it

RSS affiliate Bharatiya Mazdoor Sangh opposes FDI reforms, want government to reconsider it

Nobody is talking about Foreign Direct Outflow (FDO). It means whatever investment is coming that is going out again, says GS, BMS, Virjesh Upadhyay.

  • CNN-IBN
  • Last Updated: November 12, 2015, 8:20 AM IST
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New Delhi: Rashtriya Swayamsevak Sangh (RSS) trade union organisation Bharatiya Mazdoor Sangh (BMS) slammed the government after it eases FDI in nearly 15 sectors including 'retail'.

Speaking to CNN-IBN, General Secretary, BMS, Virjesh Upadhyay, expressed displeasure over government's decision and alleged that FDI is becoming a business. They wrote a letter to the union Finance Minister Arun Jaitley and Prime Minister Narendra Modi requesting them to consult all stake holders before taking any final decision.

Upadhyay claimed that the decision over FDI will be a threat to the retail sector, which needs to be protected. "We are concerned about the retail sector, which is certainly going to suffer the most. We want the government to seriously consider this issue," he said.

Stressing that his party completely opposes the idea of FDI, Upadhyay said, "It is very unfortunate that the government has come up with a FDI and we are against it in totality. The proposal of FDI is not well researched as the government is thinking that FDI will help India to regain from its financial crises."

He said, "Nobody is talking about Foreign Direct Outflow (FDO). It means whatever investment is coming that is going out again. The volume of direct flow is higher than the investment. We want the government should bring a white paper to all the investments done in FDI till now. Also the general public should be informed about the FDO details as well".

Earlier, RSS-affiliate Swadeshi Jagaran Manch (SJM) has raised their voice against Modi for his decision to retain UPA's FDI policy in multi-brand retail. On May 22, 2015, SJM national convenor Ashwani Mahajan accused the government and sought a clarification on its position on FDI in multi-brand retail.

They also asked for some amendments in the Factories Act, including reduction in working hours of workers from the proposed 12 to six hours a day.

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