No deal with UPA govt on insurance Bill,says BJP

Will support pension Bill as govt approved suggestions

Written by Express News Service | New Delhi | Published:August 7, 2013 3:24 am

Claiming that the government has accepted its suggestions on the Pension Fund Regulatory Development Bill,the BJP Tuesday announced its support to this Bill but asserted that it was still opposed to the crucial insurance Bill and the Constitution Amendment Bill to ratify the Land Boundary Agreement with Bangladesh.

“There are reports that there is a deal between the government and BJP on passage of financial Bills. No such deal has taken place on such Bills. We are in no mood for any deal with this government,” BJP leader Yashwant Sinha said.

Referring to his deliberations with Finance Minister P Chidambaram along with both leaders of the opposition — Sushma Swaraj and Arun Jaitley — last Saturday,he said that the BJP leaders had only consented for the pension Bill and categorically asserted their opposition to the insurance Bill.

“As far as insurance Bill is concerned,there is no question of getting this Bill passed in this session. There is no deal on it,” he said,adding that they had given their go-ahead to the pension Bill.

“The pension Bill was prepared during our (NDA) time. We had recommended two amendments and both of them have been accepted (by the government). Since,both our demands have been met we have no objection to it,” the former finance minister said.

He claimed that government had accepted their suggestion of incorporating FDI ceiling of 26 per cent in pension fund management in the Bill itself and not left for executive discretion. In addition,he said the government has also agreed to provide an option of assured return with flexibility for government servants to insist for investing their entire corpus to government securities.

He also asserted that his party was not going to play ball with the government on the issue of the land boundary agreement with Bangladesh.

“As you know,land boundary alterations can be done only through a constitutional amendment and they need opposition and other parties’ support for it. It would have made common sense to discuss this (agreement with Bangladesh) with the opposition before signing on the dotted line with Bangladesh. We have our reservations…,” Sinha said.

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