The Insurance (Amendment) Bill is set to be referred to a select committee of the Rajya Sabha on Thursday, official sources disclosed here on Wednesday.
The government has been compelled to agree to an Opposition suggestion to this effect because of its inability to mobilise enough numbers to get it passed in the Upper House. The Congress, with 68 members, is the single largest group in the Rajya Sabha. Those opposed to the Bill have a strength of 133 in a House with an effective strength of 242. The Bill proposes a hike in FDI in insurance sector to 49 per cent.
The 15-member select committee is likely to be headed by a BJP member. The ruling party nominees to the panel are likely to be J P Nadda, Mukhtar Abbas Naqvi and Chandan Mitra. Sources in the Congress said the party nominees to the committee would be Anand Sharma, J D Seelam and B K Hariprasad. The CPM choice is P Rajeev.