The Centre on Sunday appealed to the Congress and other Opposition parties to extend support for the passage of the Insurance (Amendment) Bill in the Rajya Sabha on Monday.
With the Congress and eight other parties demanding to send the Bill to the Select Committee, Parliamentary Affairs Minister M Venkaiah Naidu and Finance Minister Arun Jaitley will meet top Congress and other Opposition leaders on Monday requesting them not to block Modi-Government’s first reforms move.
In a relief to the NDA, the BJD as well the NCP have made it clear they will support the Bill in the Upper House. NCP general secretary DP Tripathi said that the Insurance Bill was a UPA agenda and there was no reason why should the NCP not support its passage now.Coming for support of the Bill, BJD leader Bhartruhari Mahtab said, “The Govern-ment has circulated about 97 amendments in the Rajya Sabha. The amendments moved by the Government have given clarity. We will support the Bill.”
He said his party was opposed to the Bill introduced by the UPA Government as there was no clarity on certain issues such as, there was no rider on FIIs. The BJD has seven members in the Rajya Sabha.Naidu said that the Government is ready to consider any “meaningful” suggestions on the Insurance laws (Amendment) Bill and appealed to the Opposition parties to pass it in the current Budget session. The Bill is slated to be introduced in Rajya Sabha on Monday.
“The Government will be happy to discuss with the Congress and other parties about this Bill. I propose to meet the important Opposition leaders in the Rajya Sabha on Monday, along with Finance Minister Arun Jaitley,” Naidu said.The Congress sources said that as soon as the Government will move the Insurance (Amendment) Bill in the Rajya Sabha on Monday, they will move a motion pressing for referring it to the Select Committee.
The Congress has been claiming that the Bill was originally its idea, but now several new provisions have been added which are “extremely mobile, uncertain and like quicksand”.AICC spokesperson Abhishek Singhvi told The Pioneer that the party was not opposing the Bill on principles, but since it is a 60-page legislation and there have been several changes, so it will be better if it is looked into by the Select Committee.
The amendments proposed to the pending legislation (the Bill was first introduced in 2008) on the insurance sector are based on recommendations of the Standing Committee of Parliament. The proposed Bill seeks to raise FDI cap in the sector to 49 per cent from the present 26 per cent. The Government has circulated about 97 amendments in the Rajya Sabha.