“FEMA notification on FDI needs nod of only one House”
"If one House has passed it, it passes. It does not need both Houses to pass it. That's what is prescribed in the rules," he told Karan Thapar on Devil's Advocate.
CPI-M leader Sitaram Yechury had said that as per rules, FEMA notification on allowing 51 per cent FDI in multi-brand retail has to be laid and passed in both Houses of Parliament.
Failure to do so will be challenged in court, he had said last week.
Nath did not agree with this contention of the Opposition. "Anything can go to court. If it goes we will deal with it," he said.
The minister insisted that the rules are separate for Lok Sabha and Rajya Sabha.
Nath, however, accepted that FEMA notification – which can be passed in the budget session as well as the government has 30 working days of Parliament to get the nod – may drag into the next session which is three months away.
He said he has got no assurance from SP and BSP on the FDI issue which will be debated and voted upon in this week in both Houses but expressed confidence they will support UPA.
"I have good reason to believe that they (SP and BSP) will vote with the government because they are a responsible party and that they will understand the politics of it… They are not going to vote for the politics of the BJP," Nath said.