"Prime Minister Manmohan Singh is saying FDI in retail will benefit consumers. Initially it may, but when they (foreign investors) establish monopoly and drive out retailers they will hike prices at will," he said at a rally here.
"Farmers will also suffer the same fate, as multinationals like Walmart will then force them to sell produce at low prices," Bhattacharjee said.
He claimed, "FDI in retail will wipe out retailers and the central government is doing this to benefit American multi-national retail chains."
The CPI-M Politburo criticised Trinamool Congress (TMC) for trying to bring a no-confidence motion against UPA II government without having the requisite numbers.
"They (TMC) don't have any sense ... The motion would have been defeated if it went on vote," the former West Bengal chief minister said.
He also criticised the Central government for decontrolling prices of gas, petrol and trying to do the same with diesel and other such items.
"We don't want that. Subsidy must be given to keep prices under control, so that general people are not affected," he said.
Turning to law and order situation in West Bengal, the former chief minister said 'hooligan' elements are having a free run during the TMC rule.