All-Party Meet on Insurance Bill Fails to Iron Out Differences
An all-party meeting today failed to hammer out a consensus over the controversial Insurance Bill which was scheduled to be taken up in Rajya Sabha.
Leaders agreed to hold a fresh round of consultations in the next two days as the brief meeting in Parliament House remained inconclusive.
"The meeting remained inconclusive. We have agreed to meet again in the next two days to arrive at a consensus on the possible formulation of the legislation," NCP leader Praful Patel, who attended the meeting, told reporters here.
NCP and BJD have decided to support the bill in the form it was cleared by the Union Cabinet recently. Today's meeting was part of the govenment initiative to take opposition leaders in Rajya Sabha on board on the key bill.
Finance Minister Arun Jaitley and Parliamentary Affairs Minister M Venkaiah Naidu attended the meeting which took place against the backdrop of nine opposition parties giving a notice to Rajya Sabha Chairman Hamid Ansari for referring the bill to a Select Committee.
NDA does not have a majority in the Upper House and will have to seek the support of other parties to move its first major economic reforms legislation for consideration.
With the opposition demanding that the Insurance Laws (Amendment) Bill be referred to a Select Committee, the government last night had deferred its plan to move the bill for consideration in Rajya Sabha today.
Parliamentary Affairs Minister M Venkaiah Naidu had yesterday said he and the Finance Minister will talk to leaders of Congress and opposition parties on various aspects of the bill that seeks to raise the FDI cap in the insurance sector from 26 per cent to 49 per cent.
Naidu had appealed to the opposition to cooperate in passing the bill, saying the government is ready to consider any "meaningful suggestions" of the opposition.
"I fervently appeal to Congress and other opposition parties to enable passing the proposed legislation for enabling 49 per cent foreign investment in insurance sector, in this Budget Session of Parliament in the larger national interest.
"Spirit of constructive cooperation on issues of economic development need to be the basis of parliamentary democracy," he had told reporters in Hyderabad.
Naidu had said the bill seeks to provide for the much desired capital inflows into the insurance sector since the penetration of insurance coverage in the country is being adversely impacted on account of inadequate investments.
Congress, CPI-M, CPI, SP, BSP, DMK, JD (U), Trinamool Congress and RJD have given a notice to the Rajya Sabha Chairman for referring the bill to a Select Committee.
- Telangana CM Offers Gold Moustache To Temple
- Modi To Face Love Challenge In 2019
- Kim Jong-Nam Was Killed By Lethal VX Nerve Agent
- 5 Crore Indians Suffer From Depression
- Wonderful, Precise And Very Cool: How Do Our Money Up-Chucking Machines Work?
- "I'm Only Passing Through" 10 Leonard Cohen Songs That You Must Listen To
- Blackout For NDTV Stirs The Media
- Daily Curator: The Dominion Of Misunderstood Men Over Headlines
- Daily Curator: Of Holes Being Poked Into The Bhopal Encounter And The Origins Of Chyawanprash
- Watch: Viral Video Has Man Lighting Up A Line Of Crackers Attached To His Mouth
- Man Sitting On Indefinite Hunger Strike Gets Married At The Protest Site
- Over 400 Academicians From International Varsities Write Open Letter To JNU Vice Chancellor Over Recent Events
- Female Intruder From Pakistan Shot Dead, Another Arrested By The BSF
- After Ornaments, Telangana CM Now Offers Gold Moustache At Another Temple
- Business Models Of E-Tailers Running Out Of Steam, Haven't Worked, Says Mohandas Pai
- Demonetisation Sucked in Cash Like Vacuum Cleaner, Adversely Affected Consumption: IMF Official
- MOST VIEWED
- MOST COMMENTED
- Boys In MP Forced To Dip Hands In Boiling Oil As 'Innocence Test', To Prove They Hadn't Stolen Mobile
- Hafiz Saeed Can Pose A Serious Threat To Nation, Says Pakistan's Defence Minister
- 5 Killed As Aircraft Smashes Into Melbourne Shopping Complex
- Nestle Sales Was Hit By Rs 100 Crore Post Demonetisation, Says Company Chairman