Bowing to pressure from allies and wary of a defeat in Parliament, the government on Saturday agreed not to operationalize the controversial Cabinet decision to allow 51% FDI in multi-brand retail sector. Finance minister Pranab Mukherjee gave a commitment to West Bengal chief minister and Trinamool boss Mamata Banerjee not to go ahead with the decision until a consensus emerged on the issue. “Pranabd a sought our opinion on the issue and we told him that the Trinamool Congress remains firm (on its opposition to letting in foreign retail giants). He informed me that the Cabinet decision on FDI entry in retail will be suspended until and unless a consensus is evolved,” Banerjee told reporters in Kolkata. “If this is so, the issue is settled,” she added. “The matter is crystal clear and you may ask Pranab Mukherjee,” the CM said.
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