The Supreme Court has cleared the hurdles for the implementation of FDI in multi-brand retail sector saying that the “consumer is king and if that is the philosophy working behind the policy then what is wrong.“
The apex court said the policy aimed at “throwing out“ the middleman, who are “curse to Indian economy“ and “sucking“ it, has to be “welcomed.“
A bench headed by Justice R M Lodha said the policy does not suffer from any unconstitutionality or illegality requiring it to be quashed. “This court does not interfere in the policy matter unless the policy is unconstituional, contrary to statutory provisions or arbitrary or irrational or there is total abuse of power. The impugned policy cannot be said to suffer from any of the vires,“ the bench, also comprising justices Madan B Lokur and Kurien Jospeh, held while dismissing a PIL challenging the notification on the FDI in multi-brand retail sector.
Before pronouncing the order, the bench said the policy was for the benefit of the consumer, farmers and the retailers with the objective to eliminate middlemen. “Consumer is the king and if that is the philosophy working behind the policy what is wrong. The policy is to free the economy from the middleman. Middleman is sucking our economy. These are suckers to be thrown out for direct benefit of consumers. If that is the objective of the policy what is wrong with it.“
The bench in its order said “it is thus left to the choice of state governments whether or not to implement policy to allow FDI upto 51 per cent in multi-brand retail.“
It rejected the contention that departement of industrial policy and promotion (DIPP) under its business rule was not empowered to make policy pronouncment.
The apex court further said there was no merit in the contention that the centre has no authority to formulate FDI policy and the PIL filed by advocate M L Sharma has to be dismissed.
In the order, the bench accepted the submission made by the Centre in its affidavit in which it said that the decision to allow FDI in multi-brand retail is a policy formulated by the government of India in conformity with FEMA 2000.
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