Congress today strongly backed the government's push for big ticket reforms hiking FDI in many sectors and took a dig at BJP for "low FDI inflow" during the NDA regime.
"The UPA government had yesterday taken a very important decision on FDI. There are people, who say what did the UPA government achieve on FDI. Total FDI inflows during first four years of NDA's regime is this millennium was 19.4 billion USD, which is an average of 4.85 billion USD per year.
"As compared to this, in the last nine years of UPA regime, the total FDI inflow has been 272 billion USD, which is an average of 30.02 billion USD per year. That is 619 per cent more than NDA's per year," party spokesperson Raj Babbar told reporters at the AICC briefing.
He also sought to allay apprehensions regarding the government's decision on FDI in defence sector.
"Adequate safeguards are there. Over 26 per cent the Cabinet Committee on Security will decide. Government has taken the safeguards. These do not relate to production but components," he said in response to a question about the government's decision to permit consideration of higher limits of foreign investments in 'state-of-the-art' technology manufacturing.
While the FDI cap in defence sector remained unchanged at 26 per cent, Commerce and Industry Minister Anand Sharma said higher limits of foreign investments in 'state-of-the-art' technology manufacturing will be considered by the Cabinet Committee on Security.
Babbar also appealed to the Opposition party to cooperate in the passage of the Land Acquisition Bill, which will be brought before Parliament when the Monsoon Session begins from August 5.
