Bowing to pressure from a united Opposition in the Rajya Sabha, the government referred the controversial Insurance Bill on Thursday to the House Select Committee.
The government’s move stalled the Opposition parties’ plan to move a motion to refer the Bill to a Select Committee of the House for consideration of official amendments. The Opposition motion would have entailed a vote in a House where the ruling NDA is in a minority.
Moving the government motion, Finance Minister Arun Jaitley informed members that said the Bill to amend the Insurance Act, 1938, the General Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Developm-ent Authority Act, 1999, as introduced in the Rajya Sabha, be referred to a Select Committeeof the House. He announced an all-party list of 15 members who would form the committee.
