The Cabinet is set to approve a series of bills aimed at capitalizing on the momentum gained from last month’s reforms. The bills are part of ongoing efforts by the UPA to shore up its scam-tainted image.
The bills include the ones that would raise the FDI cap in Insurance and open up the Pension sector to foreign investors.
Foreign companies are not allowed to invest in India's pension sector, while FDI is capped at 26% in the insurance sector.
The UPA government has had to put on hold these bills in the face of stiff political resistance - from both allies and opposition parties.
The Cabinet may today also consider amendments to the Companies Bill, Competition and the FCRA Bill, besides approving the 12th Five-Year Plan and the proposal to set up a National Investment Board.
The only worry is a few of these bills could face stiff floor test in the Parliament during the winter session. The bills require parliamentary approval before becoming law.