Insurance Bill Further Delayed, Informal Talks On
The Insurance Bill is not coming up in the Rajya Sabha tomorrow as the deadlock continues over referring it to the select committee despite Modi government's efforts to rally the Opposition for bringing on track its first major economic reform initiative.
As the Opposition stuck to its stand, government sought their cooperation for passage of the "most progressive reform" at a time when penetration of insurance was very low.
Parliamentary Affairs Minister M Venkaiah Naidu told PTI that government was ready to accept any meaningful suggestion from the opposition and was awaiting their response after yesterday's meeting to thrash out consensus.
"Country needs investment and in larger interest of the country and for betterment of economy the Bill is needed as people's interest are paramount," he said, making a pitch for early passage.
Informal consultations took place today between Naidu, Finance Minister Arun Jaitley and Congress leader Anand Sharma.
Naidu said the Bill has already been through the Standing Committee, which had deliberated on it for long.
He said the government would not have clamoured for foreign investment if resources were available domestically.
When told that parties like Congress have problems over the FII provision in the Bill, Naidu said: "Whatever is their concern they should say it. I hope they will come back and there would be meeting of minds."
Naidu's remarks came even as opposition parties insisted on referring the first major economic reform initiative of the Narendra Modi government to a select committee.
The Insurance Laws Amendment Bill was introduced in the Rajya Sabha in 2008. The Bill seeks to raise foreign investment cap in the sector to 49 per cent, with management control in the hands of Indian promoters. At present 26 per cent FDI is allowed in insurance.
- Pak Balochistan Province Assembly Resolution Condemns Modi
- Unity, Love Basic Mantras to Address Kashmir Problem: PM
- JNU Rape Case: Varsity Suspends Accused Scholar
- Curfew in Some Parts of Srinagar, Two Towns in South Kashmir
- Trump Vows to Begin Deportations Immediately If Sworn In
- Pak: LeJ Terrorists Involved in Lanka Cricket Team Attack Killed
- Myntra Says It Wasn't Us But #BoycottMyntra Trends
- Javadekar Becomes Toast Of Twitter On Freedom Fighter Comment
- Manish Sisodia Sacks Hospital Employee For Watching Video While On Duty
- Daily Curator: Vijay Goel's Olympic Entourage Likened to 'Bullies'
- Daily Curator: Expectant Mothers To Now Get More Paid Leave
- The Torrent Phoenix Rises Again
- Discussed Kashmir Situation With Sri Sri: Burhan Wani's Father
- Study Constitution Well, President Urges Law Students
- Sindhu, Sakshi, Dipa, Gopichand Get BMWs, Sachin Lauds Them
- India Test Fires Scramjet Engine, Joins Elite Club of Nations
- Indonesian Priest Injured in Church Attack
- Turkish Bombardment Kills 20 Civilians in Syria: Monitor
- MOST VIEWED
- MOST COMMENTED