Cong backs, Parliament okays Insurance Bill |
Indian Parliament has after seven years of
debate finally passed the Bill to raise FDI cap in insurance sector from 26% to
49%. The Insurance Laws (Amendment) Bill, 2015 will replace the Ordinance
promulgated by the government in 2014. The Bill passed with the help of
Congress in the Rajya Sabha. This is a major relief to the Modi government
which had come under fire for the high-handedness with which it had taken the
ordinance route to carry out major policy decisions
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