Describing the passage of India's Insurance Bill - that raises the FDI cap to 49 per cent - as a "substantial step", an influential US insurance organisation has lauded the new government for going ahead with the economic reforms and infusing new energy.
Congress leader Veerappa Moily Tuesday said the Goods and Services Tax (GST) Bill was "revolutionary" but insisted there are "101 counts" on which it should be sent to Parliamentary Standing Committee for wider consultations of some of its provisions.
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