Parliament has passed a bill to raise FDI in the insurance sector to 100% from the current 74%, which is expected to increase insurance penetration, lower premiums, and boost job creation. The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, was cleared by the Rajya Sabha with a voice vote, a day after it was passed by the Lok Sabha. The House also rejected several amendments made by the Opposition to the bill, including the one to send the legislation to a parliamentary panel for further scrutiny. Replying to a debate on the bill, Finance Minister Nirmala Sitharaman said the amendments would allow foreign companies to bring in more capital in the insurance sector.
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