The BJP on Tuesday dismissed reports about a “deal” with the Government on its proposal to hike FDI limit in the insurance sector. A day after news reports claimed Government has promised support to the Bill if the voting rights of foreign investors were capped at 26 per cent, senior BJP leader Yashwant Sinha denied that his party has made any such offer to the UPA.
“No such assurance (of support) has been given. When Finance Minister P Chidambaram met BJP leaders on Saturday, we categorically told him that the Government should not even think of bringing the insurance Bill for passage in the Monsoon Session. There is no case for supporting it,” Sinha told reporters.
He, however, claimed the BJP would support the Pension Fund Regulatory and Development Authority Bill, since the proposed legislation was originally conceived by the NDA Government under Atal Bihari Vajpayee. Sinha said the BJP has decided to support the Bill as the Government has agreed to two amendments moved by the Opposition party.
The BJP also charged “there is no Government in India today” as the Rupee tumbled to a new low.
“Today, the Government not only collapsed at the loC but also in Mumbai. Rupee had a free fall today. This Government has been fighting for every Rupee vis-a-vis the Dollar from the time when one Dollar was worth Rs 58. Now, it is going to reach Rs 62,” Sinha said.
The former Finance Minister alleged the Government has lost all control over the economy which is “hurtling in empty space”. He said India’s foreign exchange reserves stand at $280 billion. The BJP alleged the Government was in a “state of complete paralysis”.
The killing of five jawans on the Pakistan border on Tuesday, the Telangana issue which is leading to disruptions in Parliament and administrative failures
were some of the issues cited by the main Opposition to prove its charge.