Insurance Bill To Be Tabled In Parliament Today
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The The
Ironically, the BJP had earlier opposed raising the cap on FDI in insurance when the party was in opposition. The Congress-led UPA government had first introduced the Insurance Bill in 2008. It had also tried to introduce the bill again in 2013.
The BJP-led NDA has a brute majority in the Lok Sabha and the bill will be passed easily. However, it will need the Congress' support in the Rajya Sabha, where it is in a minority. The Congress has indicated that it might support the bill.
The new measures will allow insurance companies to list on stock exchanges.
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To address concerns that Indian entities may lose control, the bill provides that the management must remain with Indian companies. Moreover, the approval of the
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