Voice of Maharashtra

FM Nirmala Sitharaman to move Insurance (Amendment) Bill 2021 in Rajya Sabha for passing today

New Delhi: Finance Minister Nirmala Sitharaman will move the Insurance (Amendment) Bill 2021 in Rajya Sabha for passing on Thursday. 
The Insurance (Amendment) Bill 2021 seeks to amend the Insurance Act to pave the way for 74 per cent foreign direct investment (FDI) in the sector.
Sitharaman had on Monday (March 15) introduced the Bill in Rajya Sabha. Sitharaman introduced the Bill for amendments in the Insurance Act, 1938. The Union Cabinet on Wednesday had gave its nod for amendments in the Insurance Amendment Bill 2021.
Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian.
In Lok Sabha, discussions will be held on The Appropriation Bill, 2021 and The Constitution (Scheduled Castes) Order (Amendment) Bill, 2021.
Yesterday, the Opposition targeted the Centre over its handling of the pandemic while accusing it of absolving China from its blame for the spread of the coronavirus, during a discussion over Demands For Grants for the Ministry of Health and Family Welfare in the Lok Sabha on Wednesday. However, the government said that its handling of the pandemic has made the country self-reliant and “future ready”.