UPA mulls three key legislations in Parliament's winter session

The UPA government will renew its efforts to push three key legislations — insurance Bill, pension fund Bill and land acquisition (amendment) Bill — in the next session of Parliament.

Terming the three bills as “very important” pieces of legislation, Finance Minister Pranab Mukherjee today said, “We (the government) can talk to the members of the parliamentary standing committee on the status of the insurance bill.”

While the insurance bill is with the standing committee for over a year, the panel has already submitted its report on the pension fund bill.

Sources in the committee told Business Standard the panel will meet on September 9, 15 and 22 to take up the bill for discussion. Five bills are pending with it.

The insurance Bill was introduced in the Rajya Sabha in December 2008 by the first UPA government. Besides increasing FDI, the Bill seeks to allow public sector non-life insurers to sell a minority stake to raise capital and foreign reinsurance companies to enter the Indian market.

The pension fund regulatory and development authority bill aims to set up a regulator and give more freedom to subscribers for investing in pension funds. The bill was introduced in 2005.s