The Finance Minister has reached out to the opposition to get support for the Insurance Bill. The Finance Minister today met the leader of the opposition in Lok Sabha, Sushma Swaraj to discuss the key economic bills. CNBC-TV18’s Aakansha Sethi reports.
Chidambaram said that the Bharatiya Janata Party (BJP) has assured them that it will consider support for the Insurance Bill. The Insurance Bill seeks to hike foreign direct investment (FDI) in the insurance sector to 49 percent and this has been a key reform.
The FM said that the BJP has told him that it will get back to him with a final view by tomorrow. Internally, the BJP has been divisions rather on supporting this Bill.
Ultimately, it will be on December 8 that the fate of this key economic legislation will be known. If state assembly elections are in the favour of BJP, as exit polls are predicting, then the government may lose its strength to push forward some of those key economic reforms.
Also, it remains to be seen whether the Winter Session of Parliament will be extended by a week. The Telangana Bill will take four to five days and if the government decides to bring in the Women’s Reservation Bill that then could takeover the session.
So, two factors will determine a) whether the BJP agrees to support or not which will depend on the outcome of the state elections and b) whether the parliament session is extended or not.
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