Passage of insurance bill in LS 'deplorable': Trade Union

CITU today termed as "deplorable" the NDA government's act of getting the insurance bill passed in the Lok Sabha despite opposition from all trade unions, and extended its support to the one-day nationwide strike call given by insurance sector employees on March 9.

"CITU denounces the NDA government's deplorable act of getting the Insurance Law (Amendment) Bill 2015 passed in the Lok Sabha by neglecting the opposition by all trade unions and the public sector insurance workers and in dangerous disregard of democratic parliamentary propriety," the Centre of Indian Trade Unions said in a statement.

Welcoming the call given by insurance sector employees for a day's nationwide strike on March 9 against the government action, CITU appealed to all trade unions irrespective of affiliations to organise solidarity actions in support of the strike. 

The Bill hikes FDI to 49 percent (from present 26 percent) in insurance sector and opens routes for privatisation of general insurance sector.

The Lok Sabha passed the Bill on March 4 and it is now pending before the Rajya Sabha.

"It is a shocking manifestation of the NDA government's rabid foreign and domestic private capital friendly policies with the ulterior intention to dismantle and privatise the most successful public sector insurance industry of the country," it said.

"CITU reiterates its strong opposition to the disastrous step of the NDA Government in permitting invasion of our insurance sector by private big business both foreign and indigenous," the statement said.

CITU appealed to the entire trade union movement of the country irrespective of affiliations to organise solidarity actions in support of the strike action by the insurance workers on March 9.

"CITU directs all its state committees, federations and unions to be in the forefront of this important struggle by organising solidarity action on March 9," it said.