December 18, 2012 / 2:52 PM / 5 years ago

Parliament defers voting on insurance bill - minister

A vehicle passes a life insurance bill board of Prudential-ICICI, in Mumbai September 30, 2002. REUTERS/Stringer/Files

NEW DELHI (Reuters) - Parliament will not vote during this session on a long-awaited insurance bill aimed at raising the foreign investment cap to 49 percent from 26 percent in the industry, Finance Minister P. Chidambaram said on Tuesday.

The government had earlier planned to get parliament’s approval for the insurance bill during the session that ends on Thursday. He did not mention a similar bill covering the pensions sector, which another minister said was also unlikely to be taken up this year.

Reporting by Nigam Prusty; Writing by Manoj Kumar; Editing by Frank Jack Daniel

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