TMC slams Centre for ordinance on FDI in insurance

Says it is extremely unethical to avoid and boycott the democratic process

Trinamool Congress today slammed the Centre for approving promulgation of an ordinance to hike FDI in insurance to 49 per cent saying "It is extremely unethical to avoid and boycott the democratic process." "Trinamool Congress slams the government for taking the ordinance route. It is extremely unethical to avoid and bypass the democratic process. What value does it serve to bulldoze the democratic process," TMC spokesperson and Rajya Sabha MP Derek O'Brien told PTI.

"For one month they (government) tried to pass this in Rajya Sabha where they are in a hopeless minority.

"Just 24 hours after Rajya Sabha was adjourned sine die they used this back door route," he said.

"The united Opposition were asking the prime minister to come and speak to Parliament about some serious issues facing the nation. He shied away and today they did this," O'Brien said.

Government today approved promulgation of an ordinance to hike foreign direct investment (FDI) cap in the insurance sector to 49 per cent from 26 per cent.