Oppn seeks changes in Insurance Bill

Even as the Congress broke ranks with opposition parties on the Insurance Amendment Bill, the CPM, JD(U) and Samajwadi Party on Tuesday submitted a joint dissent note on the Select Committee report on the proposed legislation that seeks to hike insurance FDI cap to 49 per cent.

The Trinamool Congress is also understood to have submitted a dissent note on the report, which is likely to be tabled in the Rajya Sabha on Wednesday.  Finance Minister Arun Jaitley informed party MPs at a parliamentary party meeting held in the morning that after the select committee tables its report in the Upper House, the Union cabinet would approve changes so that it can be debated and passed by Parliament. 

This is one of the key economic reform-oriented legislative business the NDA government is keen to push this session after it failed last time when the opposition decided to send it to a select committee for a thorough discussion.

“I have submitted the joint dissent note of CPM, JD(U) and Samajwadi Party. We have serious objections about the report,” CPM MP P Rajeeve told Deccan Herald.

“The government’s claim on penetration of insurance following FDI is wrong. We are strongly opposing the Bill,” TMC’s Derek O'Brien also told Deccan Herald. Sitaram Yechury said if the Congress decides to support, then the bill will see light.

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