FDI in multi brand retail will benefit common man: Montek

September 24, 2012 20:30

Deputy Chairman of the planning commission Montek Singh Ahluwalia in an interview to RSTV has said that a National Investment Board will be set soon to take a final call on big infrastructure and policy decisions.

"The rules of business need to be changed' he said. "India has a potential for 8% plus growth' he said. Also commenting on the recent decisions on FDI in retail and aviation, Mr Ahluwalia said the decision was delayed by the lack of consensus among political parties.

"FDI in multi brand retail will benefit the common man' he added. Montek Singh Ahluwalia said the sector suffers annual losses of 2000 cr and the power distribution companies losses were pegged at 70000 cr. Despite that the power sector has managed to attract huge investments.

"State governments will partially offset the losses incurred by banks that have invested in the power sector' he added.

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