With the FDI in retail sailing through both Houses in Parliament, the government will try to push through the certain key legislation, which have been pending.
On Monday the government is expected to bring the Banking Laws (amendment) Bill. It has also sought time for discussion. Parleys are being held to secure the fate of the FDI linked Insurance Bill in which the government seeks to hike foreign participation from the current 26 per cent to 49 per cent.
The NDA has said that the hiking of foreign equity in insurance went against the recommendations made by the standing committee on finance.
However, once again it has to rope in the Samajwadi Party and the Bahujan Samaj Party for the passage of this contentious legislation. A cabinet meeting is likely to be held approve the draft of the land acquisition, rehabilitation and resettlement Bill and the government will try to push through this legislation in the closing days of the session. The winter session will conclude on December 20. However, the BJP and Left are likely to close ranks and try block these key legislation.
Sources in the SP felt that party supremo Mulayam Singh Yadav could also back the Left’s opposition for the hike in foreign participation in the insurance sector. “This is mainly because he intends to keep his third front leadership hope afloat, which has taken a severe beating, after he bailed out the government during the voting on FDI in multi-brand retail.”
Though the BSP leaders were earlier counting on the support of the BJP for the constitutional amendment bill to allow quota in promotion for SCs/STs, they now feel that the SP chief might oppose the move. “We are of the view that the government may be able to get through the Companies Bill and Forward Contract bill but beyond that nothing much appears possible,” a senior Congress leader said. The Forward Contracts bill was held up on account of resistance from the Trinamul Congress.
Even as the government managed to push through the FDI in retail in both Houses, it has brought three arch rivals, BJP, Left, TMC, on the same platform. The leaders of these parties are now expected to take on the government for the next days and oppose its push for reforms, sources said. The government had already accommodated the BJP's concerns on the Pension Fund Bill by introducing three amendments.
However, the BJP still might oppose this by linking it to the Insurance Bill.
Two transparency legislations - whistleblowers bill and Lokpal are not likely to see the light of the day during this session. .Other contentious bills which the government would try to push through include Education Tribunal Bill, Prohibition of Unfair Practices Bill. It may be recalled that It had Mr Kapil Sibal during his tenure as HRD minister faced opposition over the legislation from within Congress.