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FM seeks support on Insurance, Pension Bills

BJP is against raising FDI limit in Insurance and Pension Bills

August 06, 2013 3:48 IST | India Infoline News Service
India's largest opposition party BJP wants foreign direct investment in insurance and pension funds to be capped at 26%.

In the insurance sector, the government proposes to increase the FDI (foreign direct investment) cap to 49% from 26%, which the BJP is opposing. The major opposition party is also against raising the FDI limit in the pension sector to 49%.

The objective of the government is to attract foreign investments in India.

Besides the insurance and pension bills, the economic agenda for the monsoon session includes the Companies Bill, Direct Taxes Code Bill and changes in the SEBI law.



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