DEAR FRIENDS,
Congress is hopeful that it will be able to convince the main opposition party, the Bharatiya Janata Party (BJP), on the issue of foreign direct investment in insurance and pension.
While the BJP has severely criticized the government's nod for opening of multi-retail sector and other reforms like cut in fuel subsidies, it supports FDI in insurance and pension "in principle."
However, the BJP has been demanding some amendments in the insurance and pension bill to guarantee "assured return" to pensioners who are investing their hard-earned money in pension funds.
Congress is also ready to discuss issue with the BJP to get FBI in insurance and pension bill approved in parliament.
When contacted, a senior Congress functionary said, "We will discuss such issues with the BJP leadership. We are not bothered about the Opposition from supporters if the BJP ensures its support."
The Congress leader added that unlike FDI in multi-retail, it would be easy for the Government to convince the main opposition party on FDI in insurance and pension.
As insurance and pension bills are finance bills, the coalition government may collapse in case it fails to muster a majority on these bills. The winter session of Parliament is expected to begin from the third week of November.
....editor
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