Millennium Post

Insurance bill: House Panel for composite 49% cap on FDI & other foreign investment

The much-awaited report of the Parliamentary Select Committee is believed to have endorsed most provisions of the Insurance Amendment Bill, including a composite cap of 49 per cent for FDI and other foreign investments. The report of the 15-member Parliamentary committee on this Bill, held up for nearly six years, is likely to be placed before the Rajya Sabha on Wednesday.

After getting a favourable recommendation from the panel that includes members from all major political parties, the government is likely to bring the Bill for consideration of the Upper House as early as next week. The House panel is believed to have adopted the report, which may contain dissenting notes from parties like TMC, with a majority vote.
PTI

PTI

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