Industry leaders, welcomed the raising of FDI in the insurance sector from 26- 49%
Picture for representational purpose (Photo: DC/File)
New Delhi: The Congress hinted that it may not oppose the Insurance Bill. “It is our proposal in principle so how can we oppose it?” said Congress spokesman Abhishek Singhvi. But he added that the details mattered, as “the devil lies in the details”.
“If there are new Amendments, we will have to consult other Opposition parties to decide whether the Bill should go to the select panel. We will have to see the form of the Bill. Whether it is coming in the same form as we have proposed,” said Congress MP Ghulam Nabi Azad.
The CPM alleged that the Insurance Bill was the Modi government’s “welcome gift” to John Kerry. “Privatisation of insurance and pension funds and putting them into the market is meant to enrich and profit big financial and corporate interests at the expense of funds at the disposal of the government for the welfare of the people,” said CPM leader Sitaram Yechury.
Industry leaders, welcomed the raising of FDI in the insurance sector from 26 per cent to 49 per cent, saying it will bring long-needed capital into the sector. “ The increase in FDI will bring in much-needed foreign investment into the insurance industry.” Amarnath Ananthanar-ayanan, CEO and MD of Bharti AXA General Insurance, said.
( Source : dc correspondent )
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