BSP won't oppose Insurance Bill if select committee meets its demands: Mayawati

New Delhi: Bahujan Samaj Party chief Mayawati on Monday said her party will not oppose the passage of the Insurance Bill during the Winter Session of Parliament if the select committee, which is scrutinizing the bill agrees to their demands.

The Insurance Bill, which was heavily debated during the staggered monsoon session of parliament in August, was sent to a Select Committee of the Rajya Sabha after the government was unable to garner the opposition's support for it.

"The matter of Insurance Bill is with the select committee and that committee hasn't taken any final decision yet. Our party will take a stand only after the select committee's decision. We will put forth our demands to the select committee, if the committee agrees to those demands then why would we oppose the bill," said Mayawati.

The Insurance proposes to increase foreign direct investment (FDI) limit in the insurance sector to 49 percent from the existing 26 percent. Various parties, including the CPI (M), the Trinamool Congress, the JD (U), the RJD and the Samajwadi Party are likely to oppose the bill.