Government which has of late been trying to push reforms may get support of Bhartiya Janta Party (BJP) on raising Foreign Direct Investment (FDI) in insurance sector, if it reaches out to opposition.
BJP leader and former finance Minister Yashwant Sinha, has said that if government reaches out to them with concrete proposals and if it is worth supporting then it will certainly support it.
At present in insurance sector FDI is capped at 26% and government is trying to increase it to 49%.
Yashwant Sinha also said that During the NDA regime, BJP had proposed to bring 49% FDI in insurance sector if the balance of 23% equity was given to Non Resident Indians (NRIs), PIOs, OCBs, Foreign Institutional Investors (FIIs) but congress opposed it and instead demanded 26% FDI.
vinay mohanty
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