The government today reached out to political parties including Congress to arrive at a consensus on the Insurance Bill, proposing to raise Foreign Direct Investment (FDI) from 26 to 49 per cent.

Leaders of political parties including Congress, who met in New Delhi this
morning, sought two days time to give their views.

Parliamentary Affairs Minister M Venkiah Naidu said, the government is awaiting the views of the opposition in this regard.

Yesterday, Mr Naidu appealed to all opposition parties, particularly
the Congress, to cooperate with the government in the smooth passage
of the Insurance Bill that seeks to enable the much desired capital
inflows into the sector.

The Nationalist Congress Party (NCP) today said it is ready to support the Insurance Bill, slated for discussion in the Rajya Sabha today.

Talking to reporters outside Parliament, Senior NCP leader Praful Patel said there is no need to refer the Bill to the Select Committee of Parliament as demanded by some parties.

Mr Patel said his party is in favour of reforms in the insurance sector.
Meanwhile, Mrs Renuka Choudhary of the Congress criticized the way
the NDA government is trying to get the insurance Bill passed in
Parliament.

CPI (M) has said that FDI in insurance sector is a serious issue and party is strongly opposed to it. Talking to reporters outside Parliament house party leader Sitaram Yechury said, UPA government's insurance bill had only FDI but the present bill has 11 amendments including permission to Foreign Institutional Investors FIIs.

Congress leader Oscar Fernandes said that the insurance bill should be sent to the select committee and if there is any issue it can be discussed there.

BSP chief Mayawati said as there is no consensus on the bill, it should be sent to select committee.