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Insurance bill: Congress offers conditional support
July 24, 2014byEditorialEditorial
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Insurance bill: Congress offers conditional support

Post clearance of Insurance Bill by the cabinet on yesterday, the Congress on Thursday offered conditional support to the Modi government's plan to hike FDI limit in the insurance sector to 49%, brightening the prospects of the proposed legislation that has been in the pipeline for more than a decade. 

Congress's cautious approach entailing it could support the bill as long as it does not move away from the plan considered by UPA when it was in office could open the door for the legislation's passage in Rajya Sabha where NDA lacks the numbers. 

Congress deputy leader in Rajya Sabha Anand Sharma said, "It was a UPA proposal and BJP had opposed it because of partisan politics. Now, we will have to see if the bill that the government brings is a departure from our draft or is in sync with it. If it is in sync, then we will be constructively engaged." 

Sharma's vigilant remarks spell out his willingness in the Congress to support the bill as the party recognizes that it will be quite incompatible to modify its support to a measure that it has backed unconditionally 

Signals from the finance ministry are that the Congress condition was likely to be met with the government considering the bill as was moved by the UPA. 

 

 

Category :India
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