The Mayaram Committee looking in to the FDI issue has given drastic recommendations for removing the FDI cap in many sectors including Telecom.

At present FDI in telecom is capped at 74%. However, the government has not been very strict resulting in more than 74%. The telecom corporates have been continuously pressurising the government to increase FDI. The panel headed by Aravind Mayaram, Secretary, Department of Economic Affairs, has now recommended the same. The BSNL workers strongly oppose this move which will result in complete control of the MNCs in this sector which is against the interest of the country and security risk. e strongly oppose this proposal and demand the government not to increase the FDI in telecom.

It is not only in telecom that the FDI is recommended to be increased. In another important sector, the Airlines, again 100% FDI is recommended along with that of Private Security Agencies. Multi-Brand Retail it recommends 74% raising it from the present 49%.In  Defence, FM Radio, Print Media, it wants to increase from the 26% to 49%. In Public Sector Banks, the proposal is to increase to 49% from the present 20%.

The Finance Minister has earlier stated that more reforms will brought and the Prime Minister’s support is there for the move.

A strong movement against the FDI is required.