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Basu pitches for FDI in multi-brand retail to tame inflation
By   Published on: 27-May-2011 09:47:15
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New Delhi, May 27 (PTI) Concerned over rising inflation, the Inter-Ministerial Group (IMG) today suggested opening up multi-brand retail to foreign investors and changes in agriculture marketing laws to check the rate of price rise.

"We are taking a clear position on FDI in multi-brand retail. Of course, it is a recommendation, not policy," Chief Economic Advisor and IMG Chairman Kaushik Basu told reporters here.

The IMG, he added, favours formulation of a model Agriculture Produce Marketing Committee (APMC) law, which could be adopted by the states to remove supply bottlenecks at the local level.

"There is a need to revise the AMPC Act to reduce the price gap between farm gate and consumer prices. We need a model act to be adopted by states," he added.

Basu pitches for FDI in multi-brand retail to tame inflation

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