The government has allowed foreign investment in a host of sectors including multi-brand retail and civil aviation.The UPA government can expect a roaring reception from the financial markets following the decision. It can also prove to be a mood-enhancer for the Congress-led government as it heads into state polls in Himachal Pradesh and Gujarat. Punjab Chief Minister Parkash Singh Badal said no to introduction of FDI (foreign direct investment) in the retail sector in the state. He also declined to reduce VAT on fuel. Even though Deputy Chief Minister Sukhbir Singh Badal was reportedly in favour of FDI in retail during the previous tenure of the SAD-BJP government, Badal senior today categorically said that the Shiromani Akali Dal had already passed a resolution against FDI in retail and the party totally supported the NDA on the issue.
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