First thaw: Govt and BJP agree on Pension Bill

The opposition leaders,who were expecting a discussion on the Lokpal issue,were told by Mukherjee that the government was willing to accept their demand of defining the 26 per cent FDI cap in the law itself instead of ensuring it through an executive decision. This will ensure that for any change in this cap,the government will have to come back to Parliament.

On assured returns,sources said Mukherjees response was that a safe return mechanism could be provided for as one of the options of investment could be parking the maximum percentage in government securities which would be an almost risk-free proposition ensuring a reasonable return. This,he argued,would be almost like an assured return.

Though the BJP,which has piloted the PFRDA when it headed the NDA at the Centre,had refused to provide such an assured return when it proposed the new pension scheme,it has now changed its stand.

According to Yashwant Sinha,who heads the standing committee on finance,the BJP revised its position as the arguments favouring assured return under the NPS scheme were stronger and valid. He said the standing committee was almost unanimous on the recommendation of an assured return in its report. The Left parties are the only ones opposed to FDI in PFRDA.

Refusing to comment on what transpired at todays meeting,Sinha told The Indian Express that the Opposition leaders only backed the committees recommendations. We reiterated the suggestion of the standing committee and suggested that they should be accepted, he said.

On the Companies Bill,which is listed in todays revised list of business in the Lok Sabha,the BJP sought some amendments including allowing for Limited Liability Partnership LLP. This has been agreed to by the government,according to sources.