LD PM 2

The Prime Minister also made a strong case for opening
of retail trade for greater competition pointing out that
there was a huge difference between the wholesale and retail
prices.
Under the current dispensation, only domestic business
houses are allowed to enter the retail sector. The government
has not taken a view on opening retail trade to foreign direct
investment (FDI), though overseas companies are permitted in
wholesale trade.
"We need greater competition and therefore need to take a
firm view on opening up the retail trade," he said.
Expressing concern over multiple state and local taxes
and levies, he said they collectively increase the cost of
essential commodities by 10 to 15 per cent. "This too needs to
be addressed," he added.
Referring to the spiralling prices of pulses, the Prime
Minister said, the government would soon launch a National
Mission on Pulses to address the supply shortage.
Domestic production of pulses has stagnated over the past
several years, he said, adding the government had imported
yellow peas, a substitute for domestically grown pulses, to
augment supplies.
On sugar, the Prime Minister said the government had
allowed import of raw and refined sugar at zero duty to meet
the production shortfall.
"We must expedite the processing of imported raw sugar
and remove all impediments that come in the way," he said,
pointing that the country needs a medium-term policy framework
to address the periodic scarcity of sugar. MORE PTI