New Delhi: Finance Minister Jaswant Singh on December 20 ruled out any proposal to open the retail sector to foreign direct investment.

"There is no such proposal," Singh told the Rajya Sabha when Communist Party of India – Marxist (CPM) member Nilotpal Basu wanted to know during Zero hour if it was true that the government proposed to open up retail sector to FDI.

Basu said opening up retail sector would be against the recommendation of the S P Gupta Committee on FDI.

PTI