July 04, 2026 06:08 pm (IST)
Follow us:
Lok Sabha passes Insurance Bill raising FDI cap to 49 pct
New Delhi, Mar 4 (IBNS): The Lok Sabha on Wednesday passed the Insurance Bill, a reform legislation providing for raising foreign investment cap to 49 percent with the support of Congress and NCP.
The Bill will now be placed in the Rajya Sabha. However, much uproar is expected in the Upper House over the passage of the Bill since the government is in minority there.
The Government earlie rmoved motions for withdrawal of three Bills pending in the Rajya Sabha pertaining to allocation of coal mines through open bidding, introduction of e-rikshaws and hiking FDI in Insurance sector and the same have been put on hold further to some issues raised by the opposition members.
The Government is of the view that new laws by virtue of promulgation of three related Ordinances are in force rendering the pending Billsinfructuous and it is with in its right to introduce new Bills in the Lok Sabha.
The Union Cabinet had earlier approved the promulgation of the Insurance Laws (Amendment) Ordinance 2014 to amend the Insurance Act, 1938, the General Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999, in accordance with the Insurance Laws (Amendment) Bill 2008 as reported by the Select Committee of the Rajya Sabha, and for suitably introducing it in the Parliament in the next session for consideration and passing.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Another blow for Mamata: Bengal TMC president Chandrima Bhattacharya quits, meets rebel camp
Sat, Jul 04 2026
What is UDAN Scheme? PM Modi launches next phase in Jodhpur
Sat, Jul 04 2026
Centre designates 23 individuals as terrorists. List includes 17 Pakistanis, 6 Indians
Sat, Jul 04 2026
After Ram Mandir row, Badrinath Temple faces fund embezzlement allegations; probe ordered
Sat, Jul 04 2026
Kolkata's Posta Market goes on indefinite strike after trade leader slapped; shutdown ends after 4 arrests
Sat, Jul 04 2026
Hospital without a building? Indore's 'ghost hospital' has staff, transfers but no patients
Fri, Jul 03 2026
From missing person to murder: Agra woman held after husband's body found buried at home
Fri, Jul 03 2026
TMC power struggle deepens as rebels take over party headquarters, Mamata camp locked out
Fri, Jul 03 2026