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Tuesday, September 3, 2013
Govt wins over BJP on pension bill
(A breakthrough in the logjam…)
NEW DELHI: UPA's reforms agenda received a much-needed boost with finance ministerP Chidambaram and BJP leaders agreeing on a 26% cap on FDI in the pension sector paving the way for the pension bill's passage in the monsoon session of Parliament.
A breakthrough in the logjam is in sight with Chidambaram informing BJP leaders that the Pension Fund Regulatory and Development Authority Bill will incorporate the 26% FDI cap in pension fund management companies. This is in line with the recommendation of Parliament's standing committee on finance and the 26% FDI cap incorporated in the pending Bill by the Union Cabinet in 2011.