The Insurance laws (Amendment) Bill, listed for consideration in the Rajya Sabha on Monday, was deferred for the moment as the Government sought time to work out a consensus on the issue over the next two days, after an all-party meeting failed to resolve the differences on the controversial legislation.
Keen to pass the Bill in the current session itself, the Government is trying to narrow down differences over amendments as nine Opposition parties, including the Congress are demanding that it be sent to the Rajya Sabha’s Select Committee for further scrutiny.
According to sources, the option of calling a joint-session has not been ruled out by the Modi Government in the event of the Opposition, particularly Congress, “resorting to delaying tactics.”
A BJP leader said the Bill is virtually a “UPA Bill” since out of the 97 proposed amendments only 11 have been brought in by the Modi Government, where 86 were proposed by the previous Congress-led UPA Government.
Union Finance Minister Arun Jaitley is understood to have told the Congress and other parties that they should either cooperate in getting the Bill passed or reject it outright and “not play politics” on the issue of economic reforms.
Parliamentary Affairs Minister M Venkaiah Naidu and Jaitley are expected to meet important Opposition leaders from the Rajya Sabha on Tuesday to consider their “suggestions.”
After an all-party meeting failed to hammer out a consensus over the Bill, leaders agreed to hold a fresh round of consultations in the next two days.
“The meeting remained inconclusive. We have agreed to meet again in the next two days to arrive at a consensus on the possible formulation of the legislation,” NCP leader Praful Patel, who attended the meeting, told newspersons here.
The NCP and BJD have decided to support the Bill in the form it was cleared by the Union Cabinet recently.
Nine parties, including the Congress, CPM, CPI, TMC, DMK, SP, BSP, RJD and JD(U) have written to Rajya Sabah Chairman Hamid Ansari that the Bill be sent to the Select Committee for examination. AIADMK would clarify its stand “once the Bill is introduced.” The BJP which has a clear majority in the lower House, lacks the same in the Upper House and requires the backing of Opposition parties to pass the big-ticket legislation.
The Bill seeks to raise the FDI cap in insurance sector from 26 per cent to 49 per cent.
Jaitley and Naidu attended the meeting which took place against the backdrop of Opposition parties giving a notice to the Rajya Sabha Chairman for referring the Bill to a Select Committee.
The Parliamentary Affairs Minister said the Insurance Amendment Bill was introduced in Parliament during the UPA regime and was referred to the Standing Committee on Finance which spent considerable time and then made certain recommendations.
“Some of the friends in the Congress party, they say these amendments have serious implications. We told them, identify the implications you are concerned about and the Government will address them.
“We asked them about their specific objections and concerns. They said they would discuss it among themselves and get back to us. We will discuss it and I am confident that we will be able to evolve a broad consensus,” he said.
The Minister said the left has taken a principled stand that they are against FDI in any sector, which the Government understands, but the Congress wanted FDI and it was they who proposed it.
“They brought this Bill. Then, both the BJP and the Congress are on the same wavelength on this issue. And if there are apprehensions, we are ready to address them. let us see in a day or two, I think some solution will be found to this. In a democracy consultations are useful,” he said.
While the Congress has 69 members, other parties demanding that the Bill be referred to the Select Committee have big numbers in the 245-member Upper House. Those opposing the Bill total up to 133 members, while those in support of the Bill are only 68.
The strength of parties is TMC 12, JD(U) 12, SP 10, BSP 14, CPI(M) 9 and CPI 2, RJD 1 and DMK 4.
BJD and NCP, which have come out in support of the Government, have seven and six members respectively. While the BJP has only 42 members, its ally TDP has six, Shiv Sena and SAD have three each and RPI (Athawale) has one member.
There are 11 AIADMK members, ten nominated members, nine independents and other smaller parties together account for 12 members in the House.
Wooing the Opp
Government sought time to work out a consensus on the issue over the next two days, after an all-party meeting failed to resolve the differences on the controversial legislation
Keen to pass the Bill in the current session itself, the Government is trying to narrow down differences over amendments as nine Opposition parties, including the Congress are demanding that it be sent to the Rajya Sabha’s Select Committee for further scrutiny
According to a BJP leader, the Bill is virtually a “UPA Bill” since out of the 97 proposed amendments only 11 have been brought in by the Modi Government, where 86 were proposed by the previous Congress-led UPA Government
Parliamentary Affairs Minister M Venkaiah Naidu and Jaitley are expected to meet important Opposition leaders from Rajya Sabha on Tuesday to consider their “suggestions”