The Lok Sabha cleared the contentious coal and insurance reform bills, setting the stage for a face-off with the opposition in Rajya Sabha. The BJD and TMC backed the coal bill after opposing them till now, based on the government's assurances that coal-bearing states will get a higher share of revenue.
It sets the stage for an unexpected possibility of the coal bill clearing RS where NDA falls short and is hemmed in by vociferous opposition from regional parties. The insurance bill, however, remains a sore point, with the government failing to find any backing from the protesting bloc.
The Congress, too, turned back on its earlier assurance with speakers opposing the bill and the party protesting the manner in which the Centre brought the bill bypassing Parliament. The government has planned to call a joint sitting of Parliament to clear the bills.
The House witnessed impassioned speeches for and against the two legislations that were first brought by the government as ordinances.With the insurance bill being piloted by MoS (finance) Jayant Sinha, TMC's Saugata Roy poked fun that “father proposes, son disposes“, referring to the report by the finance standing committee headed by Yashwant Sinha which opposed a hike in FDI in insurance.
In his reply , Jayant Sinha said the country needed change as “our insurance penetration is low“. He said more FDI was required to provide increased coverage. He asked if the FDI cap could be 74% in banking sector, why couldn't it be hiked in insurance? Sinha's reply created a furore at one point when he used strong words -later expunged -about the awareness of rival MPs. Sinha later apologized.
Speaking for the Coal Mines (Special Provisions) Bill, 2015, coal minister Piyush Goyal said its passage will ensure “transparent and honest“ process of auctioning of coal blocks. He warned that if the bill was not passed, there could be a crisis in the sector with closure of mines. Goyal assured states that their interests will be taken care of.
It sets the stage for an unexpected possibility of the coal bill clearing RS where NDA falls short and is hemmed in by vociferous opposition from regional parties. The insurance bill, however, remains a sore point, with the government failing to find any backing from the protesting bloc.
The Congress, too, turned back on its earlier assurance with speakers opposing the bill and the party protesting the manner in which the Centre brought the bill bypassing Parliament. The government has planned to call a joint sitting of Parliament to clear the bills.
The House witnessed impassioned speeches for and against the two legislations that were first brought by the government as ordinances.With the insurance bill being piloted by MoS (finance) Jayant Sinha, TMC's Saugata Roy poked fun that “father proposes, son disposes“, referring to the report by the finance standing committee headed by Yashwant Sinha which opposed a hike in FDI in insurance.
In his reply , Jayant Sinha said the country needed change as “our insurance penetration is low“. He said more FDI was required to provide increased coverage. He asked if the FDI cap could be 74% in banking sector, why couldn't it be hiked in insurance? Sinha's reply created a furore at one point when he used strong words -later expunged -about the awareness of rival MPs. Sinha later apologized.
Speaking for the Coal Mines (Special Provisions) Bill, 2015, coal minister Piyush Goyal said its passage will ensure “transparent and honest“ process of auctioning of coal blocks. He warned that if the bill was not passed, there could be a crisis in the sector with closure of mines. Goyal assured states that their interests will be taken care of.
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