FDI in retail will push UP to bankruptcy: Mayawati

Lucknow: Chief Minister Mayawati today said FDI in retail sector would make Uttar Pradesh a bankrupt state and termed it as a move aimed at benefiting foreign friends of Congress leader Rahul Gandhi.

"As the Congress supremo Sonia Gandhi is ill…the party has made internal decision to make Rahul acting party chief and Prime Minister in future. To please the yuvraj, FDI in retail has been allowed to benefit his foreign friends," she said.

"If this is allowed, UP will become `Kangal (bankrupt) Pradesh` in the next five years as local traders will be forced to shut shop," Mayawati said.

The Union Cabinet on November 24 approved 51 per cent FDI in multi-brand retail, paving the way for global giants like WalMart to open mega stores in Indian cities.

The move has drawn the flak of the opposition parties which have described it as a lopsided decision to favour multi-national companies.