Congress likely to support Insurance Bill in RS

December 02, 2014 21:11

Government is likely to get a favourable view from a Parliamentary panel scrutinising the Insurance Bill that proposes raising foreign investment cap to 49 per cent, after the Congress agreed on most provisions except allowing FIIs.

The Select Committee on the Insurance Laws (Amendment) Bill, 2008 headed by BJP's Chandan Mitra today met to discuss various aspects of the legislation.

The SP and the BSP stayed away from the meeting, while TMC staged a protest walkout. The 15-member panel would meet again tomorrow and is likely to finalise a draft report by Monday, sources said.

The panel has been asked to submit its final report by December 12 to Rajya Sabha.

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