The Left and other opposition parties have strongly opposed the Insurance Bill presented in the Parliament. Though the BJP/NDA government has got majority in Lok Sabha, it does not have majority in Rajya Sabha. The Congress brought the bill in the UPA time, but could not succeed in adopting it. Now it says that the bill should be sent to the Standing Committee.

The Insurance Bill intends to increase the FDI from 25% to 49% in the sector. This has been strongly opposed by the opposition, especially the Left Parties. The Unions in the LIC and General Insurance had gone on sustained struggles opposing the Bill. The AIIEA has already given a call to go on strike on the day when the bill is taken for discussion in the Parliament. We fully support the demand of the Insurance unions to scrap the bill and will give all solidarity to their struggles.