Insurance bill report likely next week

Insurance bill report likely  next week

The Rajya Sabha Select Committee is likely to table its report on Insurance Bill, aimed at increasing FDI from 26 per cent to 49 per cent in the sector, by the middle of next week. A meeting scheduled on Monday will finalise its content.

The meeting of the committee, chaired by BJP MP Chandan Mitra, finished the clause-to-clause discussion on the controversial bill on Wednesday. This was the third meeting of the committee after its term was extended last week to December 12. A draft report will be circulated among members and a final view will be taken. Sources said Mitra might table the report in Rajya Sabha on December 10.

During Wednesday’s meeting, opposition members like CPM’s P Rajeeve insisted on raising the cap on capital for starting health insurance companies to Rs 100 crore from the proposed Rs 50 crore. Sources told Deccan Herald that the suggestion got the approval of the committee. It was also decided to retain the provision for insurance surveyor.

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