Govt surrenders; FDI in retail on hold; BJP and Left don't commit to truce

The government has decided to suspend one of its biggest decisions - Foreign Direct Investment or FDI in retail - till a consensus is reached among political parties. Finance Minister Pranab Mukherjee, who carries the mantle of being the government's main trouble-shooter, explained this to both the BJP and the Left this morning. The government's "holdback" is an attempt to buy peace in Parliament - nearly half the winter session has been squandered with the opposition refusing to get to work till the government cancels its reforms in retail.