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BJP fails to clear stand on FDI in insurance, pension

BJP fails to clear stand on FDI in insurance, pension
Clarity within the Bharatiya Janata Party seems to be missing over the issue of Foreign Direct Investment in pension and insurance. The party on Friday failed to clear its stand on whether they would oppose the bill on economic reforms when it is tabled in the winter session of the Parliament.

‘As far as yesterday’s cabinet decision is concerned, the standing committee on finance had opposed more than 26 per cent FDI in insurance, BJP is opposed to the government’s view’ said BJP vice-president Mukhtar Abbas Naqvi. The cabinet on Thursday had allowed 49% FDI in insurance and pension, but these decisions have to be cleared by the Parliament first before they get implemented by law.

 The BJP alleged that the cabinet decision on FDI raises a question on the legal and political intentions of the government. ‘The government is saying that FDI is beneficial to the country, they had given the same promise at the time of nuclear deal, when they said that electricity problem in the country will be solved in one year, but as of now we haven’t been able to see any results’ said Naqvi. He also criticised the government and said that when the crude oil prices are coming down in the global market, the govt should have reduced prices.
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