BJP will not play ball on 49% FDI cap: Sinha

Yashwant Sinha, former finance minister and senior BJP leader, made it clear on CNBC-TV18 that the BJP will not go along on the limit of 49% in FDI. He said that the BJP was not comfortable with increasing the limit of FDI in the insurance and pension sectors.

On retrospective amendment, he said that the ultimate power lay in Parliament. But Sinha said that the Parliament's power had to be exercised with caution. Also watch the accompanying video
"I have said in my speech on the Finance Bill that nobody can question the power of the Indian Parliament to legislate on retrospective taxation. All of us, as finance ministers, have taken recourse to retrospective taxation. But this is a power which has to be exercised with a great deal of caution and should not be misused."