BJP to oppose FDI increase in telecom

BJP said it would urge the government to accept the recommendation of standing committee on finance on the Insurance Bill

The Bharatiya Janata Party (BJP) has decided to harden its stand against the ruling Congress-led United Progressive Alliance (UPA) government in the monsoon session of Parliament and oppose the removal of the foreign direct investment (FDI) cap in telecom.

The main Opposition party will urge the Union government to accept the recommendation of Parliament’s standing committee on finance on the insurance Bill and agree to limit FDI in insurance at 26 per cent if it wants BJP support the Bill. The UPA government has already announced it favours 49 per cent FDI in insurance.

“The government has increased the FDI limit in telecom from 74 per cent to 100 per cent but why did it do so when no foreign company is ready to invest in the country? We will raise this issue in Parliament,” said a senior BJP leader after a two-hour parliamentary board meeting.  

“On the Insurance Bill, there is already a report of a parliamentary committee which had Congress leaders as members. The government is not ready to accept its recommendations,” said the leader, who did not want to be named.  

11 committees for polls
Pushing ahead with preparations for the next Lok Sabha polls, BJP on Thursday decided to set up 11 committees to focus on various aspects of electioneering, including organising rallies and reaching out to the youth.

The decision was taken at the meeting of the parliamentary board, BJP’s top policy-making body, which was attended by Narendra Modi, the election campaign committee chief, besides others.