The passage of the Insurance Amendment Bill in this session looked distinctly uncertain on Monday with the Congress joining a move by the Trinamool and the Left to thwart the passage of the legislation by getting it referred to a select committee. Eight parties which account for majority in Rajya Sabha on Friday approached chairman Hamid Ansari, demanding that the legislation which seeks to raise the FDI cap in insurance from the existing 26% to 49% be referred to a select committee.
The Congress' stand came as a surprise to the government because it had reckoned that the principal opposition will find it difficult to oppose the bill which the UPA government introduced in 2008. The estimate was fortified by former finance minister P Chidambaram's statement expressing happiness over NDA government's plan to seek the passage of the bill.
The Congress justified its notice saying that amendments proposed by the NDA represent “substantive changes“ from the legislation brought in by the UPA government.
The Congress' stand came as a surprise to the government because it had reckoned that the principal opposition will find it difficult to oppose the bill which the UPA government introduced in 2008. The estimate was fortified by former finance minister P Chidambaram's statement expressing happiness over NDA government's plan to seek the passage of the bill.
The Congress justified its notice saying that amendments proposed by the NDA represent “substantive changes“ from the legislation brought in by the UPA government.
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