New Delhi, Aug 3 IANS | 3 months ago

All trade unions in the insurance sector will go on a strike Monday to protest the NDA government's decision to raise the foreign direct investment (FDI) cap in the sector to 49 percent.


"Almost one lakh employees across the country will strike work tomorrow (Monday) as the government's move will not only dilute the vitality of the insurance sector but also pave the way for foreign capital coming into the most sensitive zone of the economy," veteran CPI leader Gurudas Dasgupta said.

He said such a move would seriously jeopardise the stability and safety of the financial sector.

"All over the world private insurance companies have been found to be delinquent. If they are allowed in India, it will seriously compromise the interest of investors and also impair the safety of long-term investment in life insurance," Dasgupta said.

The Insurance Laws (Amendment) Bill, the NDA government's first major reform initiative, will be moved in the Rajya Sabha Monday.

Trade unions would meet shortly to take stock of the situation arising out of the government's moves, including those to dilute labour laws, Dasgupta added.

While the government's efforts to get the insurance amendment bill passed got a boost with the Biju Janata Dal's (BJD) decision to support the reform, the Congress party Friday decided to back the Trinamool and Left parties' proposal to send the bill to a Select Committee, which would scuttle any NDA move to get the legislation passed by convening a joint session of both Houses.

The Congress justified its decision saying that the amendments moved by the NDA government mark "substantive changes" from the original bill that was introduced by the first UPA government in 2008.

In the 243-member Rajya Sabha, the NDA has 59 members while the BJD has seven.

(Posted on 03-08-2014)

Share This Page:


Post your comments


Information on States of India:

Andaman Nicobar | Andhra Pradesh | Arunachal Pradesh | Assam | Bihar | Chandigarh | Chhattisgarh | Dadar Nagar Haveli | Daman Diu | Delhi | Goa | Gujarat | Haryana | Himachal Pradesh | Jammu Kashmir | Jharkhand | Karnataka | Kerala | Lakshadweep | Madhya Pradesh | Maharashtra | Manipur | Meghalaya | Mizoram | Nagaland | Orissa | Pondicherry | Punjab | Rajasthan | Sikkim | Tamil Nadu | Tripura | Uttar Pradesh | Uttaranchal | West Bengal

INDIA REGIONAL MAPS:

Andhra Pradesh Travel Map | Bihar Travel Map | Goa Travel Map | Gujarat Travel Map | Haryana Travel Map | Himachal Pradesh Map | Karnataka Travel Map | Kerala Travel Map | Maharashtra Travel Map | Punjab Travel Map | Rajasthan Travel Map | Sikkim Travel Map | Tamil Nadu Travel Map | Uttar Pradesh Travel Map | West Bengal Travel Map |

KERALA TRAVEL MAPS:

Alappuzha | Ernakulam | Idukki | Kannur | Kasaragod | Kollam | Kottayam | Kozhikode | Malappuram | Palakkad | Pathanamthitta | Thiruvananthapuram | Thrissur | Wayanad |

TRAVEL MAPS OF INDIA:

Airports of India | Districts of India | India Pilgrim Centers | Tourism Map of India | National Highways in India | India Railway Routes |

INDIA CITY MAPS:

Ahmadabad | Bangalore | Chennai | Coimbatore | Delhi | Hyderabad/Secunderabad | Kochi | Kolkata | Mumbai | Pondicherry | Pune | Surat |