Before FDI vote, govt faces FEMA rules roadbump

Nov 30 2012, 10:27 IST
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SummaryThe amendments are necessary to enable the government to notify the policy on FDI in retail

ground that the government would not be able to obtain parliamentary approval in the mandated 30 days after making the amendment.

While unwilling to interfere in policy matters, the Supreme Court had termed the petitioners fears as premature, and wondered why he thought the government would not be able to obtain Parliaments approval. Relevant sections of the FEMA state that any amendment to the rules governing the Act must be tabled as soon as possible.

The convention, according to Yechury, is that as soon as possible means it is done before the 15th sitting of the session which follows the notification, which he has calculated to be on December 13.

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