Govt sees hope on pension Bill

The UPA government is hoping for support from the CPI(M) on pension reforms when the two sides meet at the coordination committee meeting on November 13.

The meeting may decide the fate of several Bills, including on insurance and pension, that will be taken up in the winter session of Parliament.

The government's hope hinges on the CPI(M)'s "growing understanding" of the problems being faced by the UPA regime and the Left Front government in West Bengal due to huge pension liabilities.

While trade unions demand guaranteed returns to employees, the government maintains that pension is not a statutory benefit any more. The CPI(M) is learnt to be putting pressure on its allies to take a "political decision" to overcome the trade unions' resistance to pension reforms.

"The CPI(M) is certainly growing soft towards the Pension Bill although it is not coming out clearly on a compromise formula. It has asked us to take a political decision regardless of what our trade union says," a senior CPI leader and MP told Business Standard.

CPI leaders believe that the CPI(M) could press for a few amendments in the Bill and allow its passage. "The CPI(M) could stage a walk out at the time of the Bill's passage. The BJP is unlikely to oppose the Bill," aid a senior CPI leader.

Meanwhile, the Left will push for amendments in the SEZ Act during the winter session. The party wants a ban on acquisition of farm land and a revision of the criteria for processing area and tax benefits.

"We have suggested some changes in the SEZ Act to the government. Hopefully we will have enough support to amend the Act in the winter session of Parliament," CPI(M) General Secretary Prakash Karat told PTI.

The CPI(M) has been opposing the insurance Bill's proposal for a hike in FDI limit from 26 per cent 49 per cent.

The Banking Regulation (Amendment) Bill is also likely to come up at the coordination committee meeting. The Left is opposed to the removal of 10 per cent cap on voting rights.