Fdi Rajya Sabha

FDI, up to 100 per cent, is permissible through automatic route for the promotion of solar power generation in the country, Minister for New and Renewable Energy (MNRE) R K Singh informed the Rajya Sabha

Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.

Ahead of Prime Minister Narendra Modi's visit to the UK, the government has eased foreign direct investment norms in 15 major sectors in a bid to drum up investment and speed growth and also counter allegations that the PM's reforms drive is slowing.

The passage of the insurance bill in Rajya Sabha is being hailed as a major win for the nine-month old Narendra Modi government. Foreign companies will now be able to buy up to 49 per cent stake in domestic insurance companies.

Prime Minister Narendra Modi passed his first major economic reform almost a year after coming to power, as Parliament voted late on Thursday to allow more foreign investment in the insurance sector.

A controversial bill providing for raising the Foreign Direct Investment (FDI) cap in the insurance sector was introduced in Rajya Sabha today but not before a heated debate and adjournments over technicalities as a similar legislation was pending in the House.

On Tuesday, when the Lok Sabha passed the controversial land bill, the Congress and some other opposition parties were not present in the House. They had walked out, signalling to the government that they are united in their resolve to not let its key reforms pass the Rajya Sabha test.

Under attack on the black money issue, BJP President Amit Shah today said government has taken a number of steps and disclosed 700 names to the SIT even though it is a "complex" issue with international treaties coming in the way of acting against offenders.

The minister regretted that although the Insurance Bill, which seeks to raise FDI cap from 26 per cent to 49 per cent, was approved by standing committee of Parliament and Select Committee of Rajya Sabha, "political obstructionism is being used to ensure it does not come on the agenda of Parliament."

The Cabinet approved late on Wednesday the Insurance Amendment Bill with a composite foreign investment cap of 49 per cent for presenting it in Parliament, incorporating the changes suggested by a house panel.

Paving the way for the long pending Insurance Bill to be placed in the Rajya Sabha, the Parliamentary Select Committee has given its recommendations on amendments to the Insurance Act that seek to raise foreign direct investment or FDI cap to 49 per cent.

Trinamool Congress chief Mamata Banerjee today said her party would oppose any attempt to pass the Bill in Parliament to raise FDI cap in insurance sector to 49 per cent and will be vocal against the BJP-led government over communal violence.

The Narendra Modi government's first big reform - the Insurance Amendment Bill - is now expected to come up in the Rajya Sabha on Monday. The government is trying to talk opposition parties into supporting it.

The Insurance Bill that seeks to raise FDI in insurance sector to 49 per cent has been pending in Rajya Sabha since 2008. The Standing Committee, to which it was referred earlier, has already given its report to the Parliament.

Rajya Sabha Chairman Hamid Ansari has called for a meeting of the Rules Committee today to try and get the House to function again and conduct the Question Hour smoothly. After many days were lost to the deadlock over Foreign Direct Investment (FDI) in multi-brand retail till last week, parties are now disrupting proceedings over the Wal-Mart lobby...

FDI, up to 100 per cent, is permissible through automatic route for the promotion of solar power generation in the country, Minister for New and Renewable Energy (MNRE) R K Singh informed the Rajya Sabha

Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.

Ahead of Prime Minister Narendra Modi's visit to the UK, the government has eased foreign direct investment norms in 15 major sectors in a bid to drum up investment and speed growth and also counter allegations that the PM's reforms drive is slowing.

The passage of the insurance bill in Rajya Sabha is being hailed as a major win for the nine-month old Narendra Modi government. Foreign companies will now be able to buy up to 49 per cent stake in domestic insurance companies.

Prime Minister Narendra Modi passed his first major economic reform almost a year after coming to power, as Parliament voted late on Thursday to allow more foreign investment in the insurance sector.

A controversial bill providing for raising the Foreign Direct Investment (FDI) cap in the insurance sector was introduced in Rajya Sabha today but not before a heated debate and adjournments over technicalities as a similar legislation was pending in the House.

On Tuesday, when the Lok Sabha passed the controversial land bill, the Congress and some other opposition parties were not present in the House. They had walked out, signalling to the government that they are united in their resolve to not let its key reforms pass the Rajya Sabha test.

Under attack on the black money issue, BJP President Amit Shah today said government has taken a number of steps and disclosed 700 names to the SIT even though it is a "complex" issue with international treaties coming in the way of acting against offenders.

The minister regretted that although the Insurance Bill, which seeks to raise FDI cap from 26 per cent to 49 per cent, was approved by standing committee of Parliament and Select Committee of Rajya Sabha, "political obstructionism is being used to ensure it does not come on the agenda of Parliament."

The Cabinet approved late on Wednesday the Insurance Amendment Bill with a composite foreign investment cap of 49 per cent for presenting it in Parliament, incorporating the changes suggested by a house panel.

Paving the way for the long pending Insurance Bill to be placed in the Rajya Sabha, the Parliamentary Select Committee has given its recommendations on amendments to the Insurance Act that seek to raise foreign direct investment or FDI cap to 49 per cent.

Trinamool Congress chief Mamata Banerjee today said her party would oppose any attempt to pass the Bill in Parliament to raise FDI cap in insurance sector to 49 per cent and will be vocal against the BJP-led government over communal violence.

The Narendra Modi government's first big reform - the Insurance Amendment Bill - is now expected to come up in the Rajya Sabha on Monday. The government is trying to talk opposition parties into supporting it.

The Insurance Bill that seeks to raise FDI in insurance sector to 49 per cent has been pending in Rajya Sabha since 2008. The Standing Committee, to which it was referred earlier, has already given its report to the Parliament.

Rajya Sabha Chairman Hamid Ansari has called for a meeting of the Rules Committee today to try and get the House to function again and conduct the Question Hour smoothly. After many days were lost to the deadlock over Foreign Direct Investment (FDI) in multi-brand retail till last week, parties are now disrupting proceedings over the Wal-Mart lobby...