New Delhi, Nov 28 (ANI): Both Houses of Parliament were adjourned till Tuesday with the opposition expressing strong resentment against the government's decision to allow 51 per cent Foreign Direct Investment (FDI) in multi brand retail.

Soon after Speaker Meira Kumar announced start of the Question Hour in Lok Sabha, opposition members were on their feet demanding a debate on the FDI issue.

BJP leader Murli Manohar Joshi, who had given an adjournment motion to discuss government's policy on FDI, insisted that the issue be taken up immediately.

Joshi was supported by the JD-U and other NDA members. Left parties were also demanding a discussion on the same issue and some of their members walked up to the Well of the House.

The Rajya Sabha also witnessed similar scenes. It was adjourned first till noon and later for the day after agitating BSP, JD-U, AIADMK and SP members raised slogans against the government's FDI policy.

Last Thursday, the Cabinet approved 51 percent FDI in multi brand retail, As per this move, many global retailers like Wal-Mart, Carrefour and Tesco can open outlets in India.

The Cabinet also decided to remove the 51 per cent cap on FDI in single brand format under which companies in food, lifestyle and sports business run stores. Owners of brands like Adidas, Gucci, Hermes, LVMH and Costa Coffee can have full ownership of business in India.

Foreign Direct Investment (FDI) or foreign investment refers to the net inflows of investment to acquire a lasting management interest in an enterprise operating in an economy other than that of the investor.

It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. It usually involves participation in management, joint venture, transfer of technology and expertise. (ANI)