Aligarh: Uttar Pradesh Chief Minister Akhilesh Yadav has said that his Samajwadi Party was strongly opposed to FDI in retail and insurance sectors but would not do anything that could help BJP take advantage of the situation.
Responding to queries from reporters here, he said SP was opposed to the FDI but "political compulsions" prevented it from withdrawing support to the UPA government at the Centre.  SP has 22 members in the Lok Sabha.
The chief minister said his party would not like to do anything which would allow BJP to take advantage of the present political turmoil.
Yadav said his party was opposed to FDI in retail as it would harm the interests of farmers and small traders.
His latest comments came after the Union Cabinet on Thursday decided to raise the FDI cap in the insurance sector from the current 26 percent to 49 percent. It also decided to allow 49 percent FDI in pension funds.


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