The Swadeshi Jagran Manch has demanded a white paper detailing the benefits and drawbacks of FDI from the Centre.
Raising a banner of revolt against the government for its decision to ease Foreign Direct Investment (FDI) norms in 15 key sectors, Rashtriya Swayamsevak Sangh (RSS) affiliate Swadeshi Jagran Manch (SJM) today demanded that the move be put on hold even as it accused the Centre of haste in the matter.
SJM also demanded a white paper detailing the benefits and drawbacks of FDI and said a commission comprising stakeholders should first be set up to examine the issue.
"SJM believes that the present decision of the government to ease FDI norms for major sectors of the economy has been taken in a hurried manner and without going into the pros and cons of the decision... SJM demands that these decisions be put on hold and a commission is constituted taking all stakeholders on board while instituting a comprehensive study to estimate loss to the economy," said Ashwani Mahajan, All India Co-Convener of the SJM.
It further added that government's 'Make in India' initiative should be more of 'Made by India'.
"It is painful to see that the present government continues to follow the policy of previous UPA government in this regard... SJM reiterates its demand for a white paper and urges the government to share the factual position with the people of India instead of repeating mere claims and intention," Mr Mahajan said.
The opposition from SJM comes three days after another RSS affiliate, Bharatiya Mazdoor Sangh, warned the government of mass agitations if the FDI decision was not immediately rolled back.
SJM said it was "in deep anguish over the central government's decision to ease FDI norms in almost all major sectors of the economy, including defence, plantation, broadcasting, single brand e-commerce, banking, construction, limited liabilities partnership, duty free shops, etc".
Arguing that the government has been advocating liberal FDI regime under its plans to revive manufacturing sector in the country in the name and style of Make-in-India slogan, the Manch said, "Government's endeavour towards Make-in-India should be more of Made-by-India."
"In 2014-15 alone, while there has been FDI inflow of USD 31 billion, there has been an outflow of USD 36.5 billion," Mr Mahajan said.
The announcement of easing of FDI norms in 15 major sectors came after the BJP led National Democratic Alliance government lost Bihar Assembly polls to the Grand Alliance of the RJD, JDU and Congress.