Govt,BJP reach agreement on Companies,Pension Bills

BJP support is crucial for the govt in the passage of the Bills as Left is opposing it.

Government and the BJP reached a broad agreement on the Companies Bill and the Pensions Fund Regulatory Development Authority Bills paving the way for their passage in this session of Parliament.

Finance Minister Pranab Mukherjee on Monday held a meeting with senior BJP leaders L K Advani,Sushma Swaraj and Yashwant Sinha to discuss these two legislations. Since the Left parties are opposed to them,BJP’s support is crucial.

Sources said government agreed to the BJP demand for ensuring Guarantee Returns in PFRDA. The Standing Committee on Finance,headed by Sinha,had made this recommendation.

It is not clear if the government has also conceded to BJP’s demand for defining the quantum of FDI in PFRDA in the Bill itself instead of bringing it through an Executive decision. Earlier,the BJP was adamant that if this provision is not included,it would oppose the Bill. It had,however,mellowed down its stand.

On the Companies Bill,which is listed in today’s revised list of business in the Lok Sabha,BJP wanted the proposed law give a nod to Limited Liability Partnership (LLP). This has been agreed to by the government,according to sources.

Both the government and the BJP leaders denied that Lokpal Bill was also discussed in this meeting. They maintained that the confabulations were related only to these two Bills which the government is keen on getting passed in this session.

Corporate Affairs Minister M Veerappa Moily is scheduled to move the Companies Bill in the Lok Sabha today.

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TMC,which is a part of the ruling UPA coalition,has certain reservations about these two Bills but has said it will not do anything which would topple the government.