New Delhi: After the Narendra Modi government decided to postpone its plan to pass the Insurance Laws Amendment Bill in the Rajya Sabha on Monday, it has called for a meeting with leaders of major political parties. The parties include Congress, TMC, BJD, JDU, AIADMK, SP, BSP among others.
Finance Minister Arun Jaitley, Parliamentary Affairs Minister Venkaiah Naidu will be present at the meeting. Opposition parties had demanded a consultation with a select committee after the government made 11 new amendments to the Bill.
The Bill proposes to raise the FDI cap in the insurance sector from the present 26 per cent to 49 per cent. It was first proposed by the Congress-led UPA government. 86 of the amendments were proposed by the UPA government.
The BJP government is in a minority in the Rajya Sabha and needs the Congress's help to pass the Bill.
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