The Group of Ministers on insurance is likely to meet in a couple of days to take up the long-pending issue of raising FDI cap in the sector to 49 per cent from the current 26 per cent, opposed vehemently by the UPA's Left allies.
"They are trying to fix time. I am told it (the meeting) will happen tomorrow or day after tomorrow," Finance Minister P Chidambaram told reporters on the sidelines of the launch of joint venture asset management business between Canara Bank and the Netherlands-based Robeco.
Since only three days are left for Parliament to go for recess, the proposed comprehensive bill on insurance sector, in case approved by the Cabinet, could come only in the second leg of the Budget session.
Read more at The Financial Express
