Press Esc to close
Monday 22 December 2014
News updated at 8:00 AM IST
Weather
Max: 28°C
Min : 17.6°C
In Bengaluru
Partially cloudy

We will oppose FDI in pension: Samajwadi Party

Kolkata, Oct 4, 2012, (IANS) :

Notifying that his party would oppose FDI in pension and insurance bills on the floor of parliament, Samajwadi Party (SP) general secretary Kiranmoy Nanda Thursday said it would be better for the people of the country if the UPA government resigns from office before the scheduled time.

"We will oppose these anti-people proposals of allowing FDI in pension and insurance on the floor of parliament. We can't support anti-people policies," said Nanda, who is also a Rajya Sabha member.

India's federal cabinet Thursday cleared the proposals to amend the legislations governing the insurance industry to hike foreign equity from 26 percent to 49 percent and on pension to allow up to 26 percent stake to overseas investors.

A meeting of the cabinet, presided over by Prime Minister Manmohan Singh, also gave its nod for some crucial changes in the Companies Act in what is being called another major push to economic reforms in less than a month.

All these proposals, however, need parliament's approval to take effect.

"The earlier this UPA government leaves the better for the people of the country. They are acting under the directions of the US because they know it very well that they won't come back to power after the next Lok Sabha polls," said Nanda.


Go to Top

Photo Gallery
Christmas celebrations

Christmas celebrations

Migratory birds

Migratory birds

Prayers in Allahabad

Prayers in Allahabad

Hand In Hand

Hand In Hand

Bengaluru Midnight Marathon

Bengaluru Midnight Marathon

The Final Battle: ISL

The Final Battle: ISL

Captain's Spirit

Captain's Spirit

Fan's Rejoice

Fan's Rejoice

Atletico de Kolkata players celebrate with Trophy

Atletico de Kolkata players celebrate with Trophy

Atletico De Kolkata wins ISL

Atletico De Kolkata wins ISL

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523