Chandigarh: Haryana Chief Minister Bhupinder Singh Hooda on Saturday hailed UPA government's decision to allow FDI in multi-brand retail saying the move would benefit all stakeholders.

He congratulated Prime Minister Manmohan Singh for this "bold initiative".

"The move will benefit all stakeholders, especially the farmers. Haryana, which accounts for 44 percent of the NCR area, offers a huge market for investment," the Chief Minister said.

Hooda said adequate safeguards had been taken to protect the interest of small retailers.

He said the investment in organised retail trade by foreigners would bring in latest technologies in preventing wastage of food due to lack of post-harvest infrastructure.

"The opening up of the retail trade will also boost investors’ confidence in the Indian economy and will give necessary impetus to country's economic growth," he said.

Opposing the FDI in retail, the INLD said the move would "destroy small traders and shopkeepers".

"The INLD, if voted to power in Haryana, will reverse the decision of the Hooda government if it implements the decision in the state," party chief O P Chautala said.
He also flayed the Centre's decisions to hike diesel prices and restricting the supply of subsidised LPG, terming these as "anti-people".

Chautala, Leader of the Opposition in the Haryana Assembly, alleged the Hooda government had failed on all fronts.

He demanded Chief Minister's resignation on moral grounds.


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