BJP questions legal, political intentions behind FDI in insurance
New Delhi: BJP on friday questioned the "legal and political intentions" behind allowing 49 per cent FDI in the insurance sector but remained non-committal about its stand in Parliament when the Bill regarding the economic reform comes up for passage.
"We have made it very clear that we are against FDI in multi-brand retail.
As for yesterday's cabinet decision, the Standing Committee on Finance had opposed more than 26 per cent FDI in insurance. BJP is opposed to the government's views," party vice-president Mukhtar Abbas Naqvi told reporters.
Asked what BJP's stand will be when the insurance bill comes up in Parliament, he said "we said FDI should be 26 per cent. There is a question mark on the legal and political intentions behind this move of the government."
After opposing FDI in multi-brand retail, BJP is concerned that it may be creating the impression of being anti-reforms. Since BJP-led NDA, when it was in power, had taken the initiative to allow FDI in insurance and pensions, a section in the party feels it should not oppose it now.
However, Naqvi evaded all questions on what BJP's stand will be in Parliament on these issues.
Finance Minister P Chidambaram has said the government will reach out to the principal opposition to win its support.