New Delhi, Dec. 18: The government is unlikely to go ahead with voting on the insurance bill as it could not reach an agreement with the Opposition and supporting parties on a clause that seeks to raise foreign investment in the sector to 49 per cent. The debate will be shifted to the next session of Parliament.
The BJP had earlier agreed to help pass the insurance bill, provided the foreign investment cap was retained at 26 per cent.
However, the government decided to hike the FDI cap in this sector, thus forcing the BJP to make it clear that it would oppose the bill. What has possibly affected the government’s confidence on this bill is the attitude of the Samajwadi Party.
“The insurance bill will not come up in this session,” a top government functionary said.
The winter session will end on December 20, giving the government just two more days to get the remaining listed legislations passed.