NDA partner Shiv Sena on Monday vowed to oppose the Insurance Laws (Amendment) Bill. The party, which has 18 members in the Lok Sabha and three in the Rajya Sabha, currently shares an ambiguous equation with the BJP. While the two parties share power at the Centre, Sena is in the Opposition in Maharashtra, where the BJP is in power.
Two Sena leaders, Rajya Sabha member Anil Desai and Lok Sabha member Arvind Sawant, told The Indian Express that the bill, was not in the interest of the country. Desai said the proposal to enhance the cap on FDI in the insurance sector would promote foreign firms at the cost of indigenous companies. Desai said the foreign firms could not be expected to get in to farmers’ personal accident insurance scheme or the rural non-traditional business scheme. Sawant, on the other hand, said the legislation aimed to push the private sector.