Govt Ready for Minor Modifications in Insurance Bill: Jaitley
Reaching out to Congress, Finance Minister Arun Jaitley today said the government is open to minor modifications in insurance Bill for its passage in the current session of Parliament.
"The government is extremely anxious that the insurance Bill, which has been pending since 2008, is finally cleared... In case they (Congress) want to make any minor modifications, they should suggest that," he said.
An all-party meeting earlier in the day failed to break the deadlock in the face of opposition demand to send the Bill to a select committee.
"I hope the intentions are to move forward and if the intentions are to move forward there are only three possibilities," Jaitley told TV channel Times Now.
The three options, which Jaitley presented before the Opposition is to approve the Bill in present form since it was the UPA government which had earlier proposed hiking the foreign investment cap to 49 per cent.
"Alternatively if UPA has changed its mind they can participate in defeating the Bill in which case, one House will approve it and the other House will disapprove it," he said, adding that the third option was the UPA should suggest if they want to make any minor modifications.
"The only fourth possibility is to do nothing, but keep hanging, for which I am afraid there is no rationale which I can understand," Jaitley said.
With the BJP and its allies not having a majority in the Rajya Sabha, the government sought to bring the Congress and other opposition parties on board expressing its readiness to incorporate their suggestions to ensure early passage of the first major economic reform initiative of the Narendra Modi government.
The Insurance Bill seeks to raise the foreign investment cap in the sector from 26 per cent to 49 per cent, with a rider that the management control rests in the hands of Indian promoter.
FROM OUTLOOKcover storyThe clouds over Vajpayee's fate may have blown over but hitherto friendly voices—from within the BJP and the...more from outlook>>>
FROM THE WEBOpinionThere is quite an understandable outrage at the gomore from WEB>>>
FROM WIRESNew Delhi, July 30 (PTI) Congress today said the Nmore from WIRES>>>
- My Party and My Family Are United: Mulayam Singh Yadav
- Tata-Mistry Tussle Heads to the Courts As Tatas File Caveats in SC, HC, NCLT
- Yashwant Sinha Led Delegation Meets Hurriyat Leader Geelani to Break Kashmir Impasse
- Six Members of a Family Injured in Pak Shelling in Jammu
- SC Directs Vijay Mallya to Disclose His Foreign Assets in Four Weeks
- Delhi: One Person Killed In Blast At Naya Bazar, Rajnath Calls Delhi CP
- Watch: Svetlana Kuznetsova Snips Her Hair And Bosses The Match
- Daily Curator: After Board Says Tata to Cyrus, Bombay HC May Have a Case to Hear
- Should You Be Worried About H5N8 Bird Flu? A Quick Guide To The Alphabet Soup
- Watch: The Trailer of Hugh Jackman's Last Wolverine Film, Logan
- Daily Curator: It's All About The Family
- Daily Curator: All That Chest Thumping Can Accomplish
- E-Ballot Facility for Service Voters Gets Govt Nod: CEC
- Snatch Tribal Rights, Face Action, Warns PM
- 300-Year-Old British Coin, One of Only 20 Ever Minted, Found in 4-Year-Old's Treasure Chest
- Muslim Community Must Seriously Ponder Over Triple Talaq: RSS
- Rename HRD Ministry as Education Ministry: Sisodia to Javadekar
- Saudi Man Dumps Bride for Sharing Pictures on Snapchat Just 2 Hrs After Wedding
- MOST VIEWED
- MOST COMMENTED
- Cyrus Mistry Removed As Chairman Of Tata Sons, Ratan Tata To Hold Interim Position
- Ratan Tata: 'I Think Everybody Knows Where The Intolerance Is Coming From...'
- Now, Adult Film Star Accuses Trump of Sexual Harassment
- Not Just a Business Partner, But an Ally Who Stood By India in its Darkest Hours: Russia