Kolkata: Firing a fresh salvo at the Congress-led UPA government over foreign direct investment (FDI) in pensions, West Bengal Chief Minister Mamata Banerjee on Sunday accused it of pushing the future of pensioners in India towards uncertainty.
The Trinamool Congress supremo, who broke ties with the Congress party and the United Progressive Alliance (UPA) over a slew of economic measures, said that during 2008-09 economic slowdown in the US, the savings of pensioners were lost in that country when the stock market crashed.
Banerjee, while highlighting the "ill affects" of allowing FDI in pension funds cited an example of an Indian residing in the US who lost 50 per cent of his savings which he had invested in pension funds as a result of 2008-09 economic slowdown.
"I want to relate to you a tragic experience of an Indian working in a wellknown IT company in California, which explains the real life impact of allowing FDI in pensions," Banerjee posted on Facebook....
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07:18 PM, Oct 07, 2012
Bharatiya Janata Party (BJP) President Nitin Gadkari on Saturday took a dig at the United Progressive Alliance (UPA) government saying that the most important person in the ruling coalition was the director of the Central Bureau of Investigation (CBI). In an interview to IBN18 Editor-in-Chief Rajdeep Sardesai, Gadkari said that the BJP would support the Trinamool Congress's (TMC) no-confidence motion in Parliament against FDI in insurance and pension. Below is...
08:18 AM, Oct 07, 2012
Mumbai: Promising more reforms, Finance Minister P Chidambaram on Saturday expressed confidence that the bills on FDI in insurance and pension will be passed in Parliament for which he will soon open dialogue with the opposition parties including the BJP. "There is a difference of opinion (on the issue of 49 per cent FDI in insurance). I intend to meet with the leaders of opposition and convince them. I can...
02:40 AM, Oct 07, 2012
New Delhi: The Congress on Friday said it would make earnest efforts through dialogue to arrive at a consensus for smooth passage of the concerned bills in Parliament on major reforms including in insurance and pension sectors. "When there will be dialogue, a way will emerge," party general secretary Janardan Dwivedi told reporters when asked whether the party would reach out to Bharatiya Janata Party (BJP). His remarks are significant...
10:06 PM, Oct 05, 2012
Mumbai: With all 21 big ticket items getting cleared by the Cabinet on Thursday, the government has rolled out reforms juggernaut in style. Here is a snapshot of what finance minister P Chidambaram read out on super Thursday. * Cabinet approves insurance and PFRDA Bills, proposes foreign equity cap in both sectors be hiked to 49 per cent. Parliament to take up bills in Winter Session. * Cabinet cleared as...
08:59 AM, Oct 05, 2012
The cabinet cleared the second edition of big bang reforms allowing 49 per cent FDI in the pension and insurance sector. India Inc has welcomed the move, but the opposition BJP, Left and former ally Trinamool Congress are upset. Insurance reform is widely seen as crucial because estimates say the sector needs a capital infusion of over Rs 62,000 crore in the next five years. Domestic and foreign insurers, who ...
07:59 AM, Oct 05, 2012
The Cabinet on Monday cleared introduction of FDI in pension and increase in cap in insurance. ...
11:12 PM, Oct 04, 2012
The UPA government on Thursday cleared FDI in pension and hiked FDI in insurance to 49 per cent. ...
09:45 PM, Oct 04, 2012
New Delhi: In the wake of reforms announced by the government in insurance and pension sectors, the Bharatiya Janata Party on Thursday said while it is not opposed to more foreign direct investment in these areas certain caveats and conditions should be met to "safeguard the interest of the people". However, the BJP remained ambivalent on whether it will support these measures in Parliament, saying it would first like to...
09:31 PM, Oct 04, 2012
Future Generali MD and CEO Deepak Sood welcomes the government's decision to introduce FDI in pension and increase cap in insurance and says it's a very positive step and something that the industry has been waiting for a very long time. ...
09:10 PM, Oct 04, 2012
Both the Left and the BJP have voiced their opposition against the Cabinet's decision to introduce foreign direct investment in pension and increase in the FDI cap in insurance. Addressing a press conference over the measures, Union Finance Minister P Chidambaram said that the cap on the FDI in pension would be linked to that in insurance. It means that if the FDI cap in insurance is approved at 49 ...
09:02 PM, Oct 04, 2012
New Delhi: The UPA government on Thursday came up with its second wave of big bang reforms as the Cabinet cleared the introduction of foreign direct investment (FDI) in pension and increase in the FDI cap in insurance. Addressing a press conference over the measures, Union Finance Minister P Chidambaram said that the cap on the FDI in pension would be linked to that in insurance. It means that if...
08:36 PM, Oct 04, 2012
New Delhi: Raising her pitch against the UPA Government, Trinamool Congress president and West Bengal Chief Minister Mamata Banerjee on Thursday said the government needs to be ousted. "Today, yet another set of anti-people decisions of the Central Government have crossed the Laxman Rekha. These important decisions, which have direct bearing on the livelihood of millions of Indians, taken by a minority government, are immoral and unethical," Mamata posted on...
08:12 PM, Oct 04, 2012
New Delhi: The long-pending Companies Bill 2011 was finally cleared by the UPA Cabinet on Thursday. The changes in the Companies Bill aim at improving corporate governance, increasing transparency and making independent directors more accountable. Along with the Companies Bill, the Cabinet also cleared 26 per cent foreign direct investment in pension and increased the cap in insurance to 49 per cent. ...
06:36 PM, Oct 04, 2012
New Delhi: The UPA appears to be unfazed by the opposition to its reforms measures, as the Union Cabinet, in yet another major step, has finally given a go-ahead to introducing foreign direct investment (FDI) in pension and hiking the cap in insurance. According to sources, the Cabinet cleared as much as 26 per cent FDI in pension and raised the cap in insurance to 49 per cent. Currently, no...
06:20 PM, Oct 04, 2012
Mumbai: The rupee rose to a five-and-a-half-month high on Thursday, as the government looked set to push forward with more fiscal and economic reforms, sparking a rally in stocks that is expected to attract more foreign investor inflows. The Cabinet was due to meet on Thursday to approve bills that would raise the cap on foreign direct investment in insurance firms and open the pension sector to foreign investors. The...
06:15 PM, Oct 04, 2012
CPI MP Gurudas Dasgupta has said that his party will opppose FDI in pension and insurance in Parliament. He said the government is on a suicidal path and is working at the behest of domestic and foreign capitalists. ...
06:02 PM, Oct 04, 2012
New Delhi: Keeping with its promise that "reforms are here to stay", the UPA government is planning to introduce more reforms in the country. The latest being the 26 per cent FDI in pension and 46 per cent in insurance, which the Cabinet is expected to clear on Thursday. But as the government is preparing for the second round of reforms, the Opposition is getting ready to stymie the move....
05:18 PM, Oct 04, 2012
Kolkata: The Trinamool Congress has attacked the government over introducing foreign direct investment (FDI) in pension and increasing the FDI cap in insurance. The party led by West Bengal Chief Minister Mamata Banerjee has reiterated that it will oppose the move by the government in Parliament. Speaking to mediapersons, Trinamool Congress MP Saugata Roy said that the party would launch agitation against the government throughout the country. "We will launch...
05:14 PM, Oct 04, 2012
New Delhi: Even as the share markets surge ahead of Congress-led United Progressive Alliance (UPA) Government's second round of reforms, the Opposition is getting ready to stymie the move. The UPA Cabinet is expected to clear 26 per cent foreign direct investment (FDI) in pension and raise the cap in insurance to 49 per cent on Thursday. But the passage of the two bills in Parliament is likely to be...
03:04 PM, Oct 04, 2012
