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Highlights:
- In the Rajya Sabha on Thursday, the House proceedings were adjourned several times due to the uproar of the opposition on the Insurance Amendment Bill.
- Under the bill, there is a provision to increase the limit of existing FDI from 49 percent to 74 percent in the insurance sector.
- Opposition demands that the government send the bill to the Standing Committee, many opposition members kept raising slogans during the discussion
On Thursday, the opposition created a ruckus in the Rajya Sabha over the Insurance (Amendment) Bill. Finance Minister Nirmala Sitharaman raised the bill for discussion in the house of opposition uproar and sloganeering. Opposition parties are opposing raising the FDI limit in the insurance sector from 49 percent to 74 percent through this bill. The opposition demanded that the bill be sent to the Standing Committee. During the discussion, some opposition members shouted slogans of ‘Stop selling the country’ and ‘Stop privatization’. The house was adjourned due to uproar and sloganeering. So far, 4 proceedings have been adjourned on Thursday.
Opposition leader Mallikarjun Kharge opposed the bill and said that the insurance law is going to be amended for the third time. The bill should be sent to the Standing Committee to address its deficiencies. T. Siva of DMK also demanded that it be sent to the Standing Committee. Congress member Shaktisinh Gohil, while objecting to the discussion on the bill, said that the members did not get enough time for this. But Deputy Speaker Harivansh rejected his objection and said that the bill was introduced in the House itself on March 15 and the members have got due time.
BJP member Bhupendra Yadav, opposing the opposition’s demand, said that it has already been considered in various committees including the standing committee. During the uproar, Finance Minister Nirmala Sitharaman put the Insurance (Amendment) Bill up for discussion. During this period some members came close to the pedestal opposing the bill. In view of the uproar in the house, Deputy Chairman Harivansh adjourned the meeting for 10 minutes at around 2.30 pm. After the one-time adjournment, as soon as the meeting started, the action was first adjourned till three o’clock and thereafter till 3.15 o’clock.
When the proceedings of the House started at 3:30 pm, Deputy Speaker Harivansh called the name of Anand Sharma of the Congress for discussion. But Leader of Opposition Mallikarjun Kharge once again protested the bill and demanded that it be sent to the Standing Committee. The Deputy Chairman then gave BJP member Arun Singh time to discuss. Amid opposition slogans of ‘Stop selling the country’, Singh started voicing his views in support of the bill. He said that LIC was formed by merging 256 companies. Then merged 107 companies to form 4 insurance companies. He gave his arguments about why the bill is necessary. During this time many members of the opposition also came to Vail. Finally, at 3:30 pm, the house was again adjourned for 10 minutes. When the proceedings of the House resumed, Anand Sharma of the Congress began to express his opposition to the bill. He demanded the Finance Minister to withdraw the bill.
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