A bill that seeks to raise foreign investment in the insurance sector will be taken up in the Rajya Sabha today and is expected to sail through following the government's pact with the opposition on key legislation.
The government, which is in a minority in the upper house of Parliament, has agreed to the opposition's demand to send the mining and coal bills for review to select committees that will submit their reports by March 18, in time for the bills to be taken up for passing.
The Congress and other opposition parties, sources say, will allow the passing of the Insurance Bill but with amendments. The bill seeks to increase Foreign Direct Investment in the sector from 26 to 49 per cent.
The government needs to have six ordinances, including the Land and Mines ordinances, ratified through bills by both Houses in this Parliament session or they will lapse.
Each will clear the Lok Sabha, where the BJP-led National Democratic Front government has a big majority. But in the Rajya Sabha, it is the Opposition that dominates.
The government made nine amendments to its land bill in an attempt to placate critics who have called the land ordinance "anti-farmer."
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