INDIA & THE WTO
NEW GOVERNMENT
COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES
SEARCH REDIFF

Congress will support IRDA bill

Former union minister Rajesh Pilot ( congress) said in the Lok Sabha today that his party would support the Insurance Regulatory Development Authority bill seeking to open insurance business to the private sector in the country.

Pilot made the announcement while participating in the resumed debate on the IRDA bill.

Pilot said he had submitted certain amendments to the bill to ensure that the national interest and the economy were protected.

He said it is true that there were differences in the party on the bill. ''This is a healthy sign my party always allowed its members to express their views,'' he added.

Pilot was the first from his party to speak on the bill. Earlier, Geeta Mukherjee (CPI) opposed the bill saying there was no justification for privatising the insurance business in the country since the Life Insurance Corporation of India and the General Insurance Corporation were not only making profits but also contributing to the nation's development.

UNI

Business