More FDI in insurance will cause trouble: CPI-M

New Delhi, July 31 (IANS) The government decision to hike the FDI cap to 49 percent in the insurance sector will inject "volatility and vulnerability of the deregulated financial system" into India, the CPI-M has said. The cabinet's approval of the raising of the FDI cap from 26 percent is the Narendra Modi government's "welcome gift to John Kerry, the US Secretary of State who is visiting India", it said. An amendment to the insurance laws will be placed in this session of parliament, the CPI-M said in an editorial... Published By: hoteldealsphuket - 2 days ago
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