No FDI in retail sector: CM.

LUCKNOW: Chief Minister Akhilesh Yadav on Monday said that the Uttar Pradesh government is not in favour of foreign direct investment in the retail sector owing to harm it could potentially cause to small traders in the state. Akhilesh also said that the Samajwadi Party would take any decision only after consulting the trader community. Stating that the SP had first opposed Value Added Tax to protect the interests of traders in the state, the SP regime had earlier abolished octroi in UP.

Addressing a traders' conference in Lucknow, Akhilesh said all decisions by the government would be taken keeping in mind the welfare of traders. He also said that the accident insurance amount for traders would be enhanced to Rs 4 to 5 lakh, soon.

The chief minister also said all commercial tax related work would be made available online from the first week of January 2013. In addition, the government is also considering abolishing entry tax and added that exploitation and harassment of traders would not be tolerated. Akhilesh also said the state government is considering declaring September 3 as the Traders Day at the government level. He also said adequate power supply would be made available to traders soon, as per their need

Source  : timesofindia.indiatimes.com