Allowing FDI In retail suicidal: Nitish Kumar

Bihar Chief Minister Nitish Kumar today hit out at the Centre for allowing 51% FDI in multi-brand retail and described the step as 'suicidal'.

"The UPA government has allowed 51 per cent FDI in multi-brand retail inspite of strong objection raised by the state government earlier. It is a suicidal decision," Kumar told reporters.

The chief minister said it appeared that UPA government's time was up. "Yah atmaghati nirnay hai aisa lagata hai ki UPA sarkar ka chala chalanti ka bela aa gaya gai."

He said that the economy had derailed during the UPA regime and the people were wilting under spiralling price rise and inflation with the government lacking will power to deal with the situation.

Kumar said the diesel price hike would have a cascading effect on the overall economy.

"The diesel price hike will affect transportation cost and input cost of consumer goods due to hike in transportation charge by transporters, he said.

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