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Parliament defers voting on insurance bill - minister
December 18, 2012 / 2:52 PM / in 5 years

Parliament defers voting on insurance bill - minister

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.

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

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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