Agitation in the House

Spokesperson: Shri Mallikarjun Kharge and Shri Syed Nasir Hussain:Shri Syed Nasir Hussain said thatHello Friends! The delegation of all these opposition parties, led by Shri Mallikarjun Kharge, is in front of you today to keep all the things in front of you i.e. the opposition which was raised in the House yesterday about the Insurance Act, 1938, which was followed by the Adjournment, after which the conversation took place, and the walkout was done.

Shri Mallikarjun Kharge said that the insurance bill that has been brought has many flaws. So, that is why, we wanted that this bill should be sent to the Standing Committee, because our Finance Minister tried to mislead even inside the House. I will now read two sentences in front of you, it is - Statement of Objects and Reasons. It says - Accordingly, the Insurance Amendment Bill 2021, amending the Insurance Act 1938(6) interalia to provide for substitution of sub clause (B) in the definition of Indian Insurance Company in clause 7 (A) of section 2 of the Insurance Act, 1938, so as to raise the limit of foreign investment in an Indian Insurance Company from the existing 49% to 74% and to allow foreign ownership and control with the safeguards. This means that whatever money the companies here will get, whatever FDI they will get, whatever they will invest, a provision has been made to give ownership to the foreign companies gradually. So, the foreigners are investing here just like the East India Company did; to gradually rule over the whole country.

Therefore, the finance minister, in one of the lists, told how many private companies and how many public sector companies are there, and also told how many jobs are in the private sector and how many jobs are in the public sector. Even I have those figures using which the Finance Minister misled people.

In conclusion, I want to say that Pandit Jawaharlal Nehru ji nationalized all the foreign insurance companies that were here and Indian insurance companies in 1956 for this purpose. And the purpose was to give social justice and benefit all the poor people.

So, we wanted to clarify that they want to give full control to the foreign director. So that is why yesterday, we talked to them, but no solution could be found. That is why we had to take that step over there. But the stubborn government did not listen to us and we had to walk out. I had to tell you this as clarification had to be done. I thank you for this. Friday, 19 March, 2021