Yashwant Sinha, former finance minister of India and currently senior leader of the Bharatiya Janata Party (BJP), the largest Opposition party in India said that the government may get support from BJP on raising the FDI in the insurance sector to 49 percent.
In a recent appearance on one of the television channels, Mr. Sinha was asked if BJP would support the government if it comes out with a proposal to hike the foreign direct investment in the insurance sector to 49 percent. He replied that BJP will surely consider the proposal if the government reaches out to them. He added that if they find the proposal worth supporting then they will certainly support the move of raising FDI limit in the insurance sector.
The government should seize this opportunity and take necessary action to get a nod to hike the FDI limits in insurance sector to 49 percent.