Backed by Congress, Select Committee to submit report on Insurance Bill in Rajya Sabha
December 10, 2014 10:09
After a delay of almost seven years, the legislative approval to hike foreign direct investment in insurance sector from 26 per cent to 49 per cent may finally come from Parliament.
The Select Committee on the Insurance Bill will submit its report to the Rajya Sabha on Wednesday.
The Congress has already given its nod to the Bill paving the way for a long pending economic reform. The Bill likely to now see a smooth sailing in the Upper House where the NDA govt does not have the numbers.
The Select Committee head for the Insurance Bill Chandan Mitra said, "We have addressed concerns of the Congress. It hasn't given any dissent note."
After a delay of almost seven years, the legislative approval to hike foreign direct investment in insurance sector from 26 per cent to 49 per cent may finally come from Parliament. The Select Committee on the Insurance Bill will submit its report to the Rajya Sabha on Wednesday.
The Congress has already given its nod to the Bill paving the way for a long pending economic reform. The Bill likely to now see a smooth sailing in the Upper House where the NDA govt does not have the numbers.
The Select Committee head for the Insurance Bill Chandan Mitra said, "We have addressed concerns of the Congress. It hasn't given any dissent note."
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