Congress demands to refer Insurance amendment bill to Select Committee

One of the important policy moves of the NDA government, the Insurance Amendment Bill that allows the FDI in the sector to 49%, has demanded to be referred to a select committee by Congress so that it can study the regulations imposed in the proposed Bill to secure the Indian market. The earlier UPA government had proposed the move opening the sector and allowing the influx of foreign funds between 20,000 crores to 60,000 crores. But the BJP opposed the move then, saying there should be several regulations needed before making such move.

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