Chennai:
The Congress' biggest ally, the DMK has cautioned the government about rushing into reform like Foreign Direct Investment or FDI in retail and forming the National Investment Board (NIB).
"My opinion is that hasty decisions and announcements in the name of economic reforms should be avoided. They should be taken after deep consultations and keeping in mind the future prospects of the country," DMK president M Karunanidhi said.
The DMK chief has quoted the opposition to the proposed NIB from within the Union cabinet. The NIB is meant to be the nodal agency to clear large investment projects within a time limit. It has been pushed by the Prime Minister with the backing of Finance Minister P Chidambaram and is being seen as the catalyst for investments in projects like roads, mines and petroleum.
There has been opposition to the NIB by Environment Minister Jayanthi Natarajan and the Tribal Affairs Minister K C Singh Deo. They have written to the PM that the NIB must not be allowed to take decisions without the go-ahead from their ministries.
The NIB has proposed that the chair, which is the PM (and in his absence the Finance Minister), can clear large investment projects if other ministries are taking too long to clear them.
Mr Karunanidhi also recalled speeches of his colleague and cousin Murasoli Maran, who has argued against FDI in 1992. "His remarks are valid even today and therefore we have to fit them in today's context," he said.
(With PTI inputs)
"My opinion is that hasty decisions and announcements in the name of economic reforms should be avoided. They should be taken after deep consultations and keeping in mind the future prospects of the country," DMK president M Karunanidhi said.
The DMK chief has quoted the opposition to the proposed NIB from within the Union cabinet. The NIB is meant to be the nodal agency to clear large investment projects within a time limit. It has been pushed by the Prime Minister with the backing of Finance Minister P Chidambaram and is being seen as the catalyst for investments in projects like roads, mines and petroleum.
There has been opposition to the NIB by Environment Minister Jayanthi Natarajan and the Tribal Affairs Minister K C Singh Deo. They have written to the PM that the NIB must not be allowed to take decisions without the go-ahead from their ministries.
The NIB has proposed that the chair, which is the PM (and in his absence the Finance Minister), can clear large investment projects if other ministries are taking too long to clear them.
Mr Karunanidhi also recalled speeches of his colleague and cousin Murasoli Maran, who has argued against FDI in 1992. "His remarks are valid even today and therefore we have to fit them in today's context," he said.
(With PTI inputs)
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