RSS-linked trade union opposes FDI in insurance, threatens stir

RSS-linked trade union opposes FDI in insurance, threatens stir
New Delhi: The government's headache over the controversial Insurance Bill grew Tuesday as RSS-linked Bharatiya Mazdoor Sangh threatened to go on a strike along with other trade unions opposing the legislation allowing 49 percent FDI in insurance sector.

Various central trade union organisations, including BMS, will be meeting on August 7 to chalk out the next course of action on the hike in FDI in insurance sector issue and the proposed reforms in labour laws.

Government is still trying to bring the opposition on board on the Insurance Bill to ensure its smooth passage and has deferred its consideration in the Rajya Sabha till then.

"We are against the insurance Bill since the UPA time. We feel FDI in insurance is not in the interest of the sector, the employees and the country. Insurance workers across the country will go on a strike the day the insurance Bill is tabled in Parliament," BMS general secretary Virjesh Upadhyay told PTI.

He demanded the government come out with a white paper on FDI to clear the myth on where it has come and where it is. He said FDI has not generated any employment opportunities and it was Indian money which was coming into the country in the name of FDI.

"My allegation is whatever investment has come is Indian. The people of the country are being befooled in the name of FDI," he said.

He said BMS was opposed to FDI completely and not in insurance sector alone.


Read more about: fdi, insurance
Story first published: Wednesday, August 6, 2014, 14:19 [IST]
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