Naidu lauds opposition's 'overwhelming' support for Insurance Amendment Bill

Expressing happiness over the passing of Insurance Laws (Amendment) Bill-2015 in the Lok Sabha, Union Minister for Parliamentary Affairs M Venkaiah Naidu on Wednesday lauded the 'overwhelming' support of the opposition parties.

Naidu also hoped that the support from various parties for the bill will continue even in the Rajya Sabha.

"Bills have been passed, not because we have numbers ; they [the opposition] have also supported us. If you see the voting regarding these amendments, overwhelmingly over 95 percent of the members of the parliament are supporting these bills, which include the opposition also. That being the case I hope they will do the same thing in the Rajya Sabha also," Naidu told the media.

"I am happy that the Lok Sabha, with an overwhelming majority has approved the insurance amendment bill. While we are happy we hope that the Rajya Sabha will also approve," he added.

The minister further said that the government is willing to incorporate constructive and meaningful suggestions made by the opposition parties in the Land Acquisition Ordinance.

"On Monday, we propose to bring land acquisition act, we are holding discussions individually with different party leaders and senior ministers, we will take the feedback. The government is willing to take the constructive meaningful suggestions of the opposition and then incorporate them," he said.

The Lok Sabha had earlier in the day passed the Insurance Laws (Amendment) Bill-2015 that will replace the Insurance Act of 1938, General Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999.

Meanwhile, the Land Bill, which will replace the controversial Land Acquisition (Ordinance), will be taken up on Monday. The bill, introduced in the Lok Sabha last week, had met with considerable opposition.