Get the FDI debate over with and pass the laws

The UPA government has agreed to debate overseas investment in retail in Parliament under a rule that mandates voting. The compromise, that came after its ally the Dravida Munnetra Kazagham assured the government of its support, should end the impasse in Parliament and is, therefore, welcome. Many important Bills are pending in the House and it is imperative for Parliament to get back to the business of making laws. However, the Opposition’s insistence on a discussion with voting on an executive decision is a matter of regret. True, Parliament exists to nurture discussion and debate, and we should not try to limit issues that can be discussed. A debate on foreign direct investment ( FDI) in multi-brand retail makes sense as it is of importance to many stakeholders. However, the Opposition has set a wrong precedent on governance by pressing for a vote.

Left parties argue that the Congress did the same in 2001 when it voted against a proposed policy move by the National Democratic Alliance to sell shares in state-owned National Aluminium Co. Such arguments to score political brownie points serve no purpose. The larger point is that policymaking is the prerogative of the government and demanding a vote on the policy amounts to questioning the constitutional propriety of the executive making policy. Instead, the ideal way is for the Opposition to move a vote of no-confidence to express lack of faith in the government. Rightly, Trinamool Congress chief Mamata Banerjee made an attempt, but failed to get support from the BJP or other major parties of the Opposition.

That is unfortunate. The alternative, in the absence of an immediate compromise, is chaos and stalled functioning of Parliament. This is unacceptable. The monsoon session was completely unproductive, with the BJP stalling Parliament over the coal allocation scam. Only four out of 32 Bills got Parliament’s sanction. The government has now listed 25 Bills that include key financial sector reforms in insurance, pension and banking sectors. The Opposition must cooperate in ensuring passage of these Bills. Only then can investor confidence be fully restored.