Tuesday, August 12, 2014

All-Party Meet On Insurance Bill Ends Inconclusively, Will Meet Again

All-party meeting on insurance bill today failed to iron out disagreements. The Insurance Laws (Amendment) Bill was supposed to be tabled in Rajya Sabha. However, they agreed to meet again in the next two days to arrive at a consensus on the possible formulation of the legislation.

The meeting was a part of the government initiative to take opposition leaders in Rajya Sabha on board on the key bill.

Finance Minister Mr. Arun Jaitley and Parliamentary Affairs Minister Mr. M. Venkaiah Naidu attended the meeting which took place against the backdrop of nine opposition parties giving a notice to Rajya Sabha Chairman Mr. Hamid Ansari for referring the bill to a Select Committee.

The BJP-led NDA government does not have a majority in the Rajya Sabha and will have to seek the support of other parties to move its first major economic reforms bill for consideration.

In a major boost to the government, the NCP and the BJD have decided to support the bill in the form it was cleared by the Union Cabinet recently.

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