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Hope Mamata will okay FDI in retail: Basu


Kolkata: Chief economic advisor Kaushik Basu Saturday hoped that West Bengal Chief Minister Mamata Banerjee will give a nod for FDI in retail trading.

It was under intense pressure from Banerjee’s Trinamool Congress that the central government put the plan to allow foreign direct investment (FDI) in retail trading on hold.

“When it comes to some of the intricate economic policy making, it is easy to fall in the trap of thinking that I know what is best,” Basu said to a question at an event organised by the Bharat Chamber of Commerce here.

“Our top leaders have a lot of indulgence to grasp intelligently this kind of a policy,” Basu said.

“So if it can be explained to her (Mamata), I feel she would understand it is actually in the interest of the people, farmers and consumers of West Bengal,” he said.

The economist said after multinational companies start largescale operations in retail, it would economically benefit farmers.