The NDA Government plans to table the Insurance Laws (Amendment) Bill in the Rajya Sabha on Monday, even as several opposition parties have indicated that they will move a motion in the Upper House of the Parliament to refer the Bill to a Select Committee.
The proposed Bill seeks to raise the ceiling of foreign direct investment (FDI) in the insurance sector from 26 percent at present to 49 percent.
The Bill has already been scrutinised by a Standing Committee.
Among the political parties planning to move the motion to have the Bill referred to a Select Committee are the Congress, CPI(M), CPI, SP, BSP, DMK, JD(U), Trinamool Congress and the RJD.
The AIADMK has also agreed to back these parties.
The Congress has been claiming that the Bill is originally its idea, but now several new provisions have been added including allowing investment by FIIs, which is extremely uncertain.
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