Passage of insurance bill in LS ‘deplorable’: CITU

| Saturday, March 7, 2015 - 18:57
First Published |

The Centre of Indian Trade Unions (CITU) today termed as “deplorable” the NDA government’s act of getting the insurance bill passed in the Lok Sabha despite opposition from all trade unions. It also extended its support to the one-day nationwide strike call given by insurance sector employees on March 9.

“CITU denounces the NDA government’s deplorable act of getting the Insurance Law (Amendment) Bill 2015 passed in the Lok Sabha by neglecting the opposition by all trade unions and the public sector insurance workers and in dangerous disregard of democratic parliamentary propriety,” CITU said in a statement.

The Bill hikes FDI to 49 per cent (from present 26 per cent) in insurance sector and opens routes for privatisation of general insurance sector. The Lok Sabha passed the Bill on March 4 and it is now pending before the Rajya Sabha.

Welcoming the call given by insurance sector employees for a day’s nationwide strike on March 9 against the government action, CITU appealed to all trade unions irrespective of affiliations to organise solidarity actions in support of the strike.

“It is a shocking manifestation of the NDA government’s rabid foreign and domestic private capital friendly policies with the ulterior intention to dismantle and privatise the most successful public sector insurance industry of the country,” it said.

“CITU reiterates its strong opposition to the disastrous step of the NDA Government in permitting invasion of our insurance sector by private big business both foreign and indigenous,” the statement said.

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