Government Allows FDI in Pension and FDI Insurance Cap Increased

Government Allows FDI in Pension and FDI Insurance Cap Increased

Currently, no foreign investment is allowed in the pension sector and only 26 per cent FDI is allowed in insurance.

Congress government today decided to allow foreign companies to increase
their ownership of insurance companies from 26% to 49%.

The proposal in the Pension Fund regulatory and Development Authority (PFRDA) Bill seeks to open up the pension sector to foreign Direct Investment (FDI).

Both above changes need to be approved by parliament of India.

Union Finance Minister P Chidambaram said that the cap on the FDI in pension would be linked to that in insurance. It means that if the FDI cap in insurance is approved at 49 per cent, then that in pension will also be 49 per cent.

Both the decisions are good as it is in the hand of individual families to decide where to opt, where to invest money.

Government just needs to see that laws regulating them are correct and without any loopholes.

In democratic government, what happened is that politicians get the kickbacks from company and they keep the laws with loopholes, which save the companies and allow the companies to do corruption.

So always, remember if a law has loophole this means that your political leader and his party has received kickbacks from the companies.

Kickback means corruption money, black money, unaccounted money, job for kids, and friends and forging tours, and appreciation from forging media all these are the different types of kickbacks.

The Cabinet also approved the declaration to of five airports as international.
An international airport is one that can accommodate international flights that requires separate layers for immigrations and customs including high-end facilities at the terminal like aerobridges and mandatory runway length to accommodate jets.

Following are the names of the five international airports:
1)   
Lucknow

2)   
Varanasi

3)   
Tiruchirapalli

4)   
Mangalore

5)   
Coimbatore



The government today approved the 12th Five-Year Plan (2012-17) document
The document has already been approved by the full Planning Commission headed by Prime Minister Manmohan Singh on September 15.

The cabinet has cleared the 12th -five-year plan today, the country's economic blueprint.  It will now be reviewed by the National Development Council (NDC), which consists of the PM, his cabinet and chief ministers.
The document will now be placed before the National Development Council (NDC), the apex decision-making body, for the final approval.

The total plan size has been estimated at Rs. 47.7 lakh crore.

What is NDC?
National Development Council is headed by the Prime Minister with all Chief Ministers and Cabinet Ministers on board, is the final authority to approve the five-year long policy document.


Problem in India is opposition parties do not bring any policy changes to the supposed laws , they just say no and oppose it which delays everything and finally  a law with loophole gets passed and all the political parties receive kickbacks


Reality views by sm –

Thursday, October 04, 2012

Tags – FDI Insurance Pension