Parl Committee on insurance to submit report on Dec 8

New Delhi: A Parliamentary Committee, examining a bill on raising the FDI cap in insurance sector to 49 per cent, will be presenting its report on December 8 amidst strong reservations by some parties like Trinamool Congress and the Left.

The draft of the report is expected to be circulated among members of the Select Committee on Friday, according to indications emerging from a meeting of the panel today.

At the meeting, there were protests by members of TMC and CPI(M) who contended that the process was being hurried up without giving enough time to the members to put forth their views, sources told PTI tonight.

Members of the two parties, which are opposed to raising the cap from 26 per cent, were critical of the functioning of the Committee headed by BJP’s Chandan Mitra, the sources said.

“The two-hour meeting today was a high decibel one,” a member of the Committee said.

TMC is likely to give a dissent note to the report.

The Committee, set up in August, was on November 25 given two more weeks till December 12 to submit its report, but not before opposition parties raised questions over the procedure for seeking extension of the timeline.