AGARTALA, March 9 (TIWN): The North Eastern Region General Insurance Employees’ Association (NERGIEA) called a strike on March 9 to protest Insurance Laws (Amendment) Bill 2015 passed by Lok Sabha recently. While along with the entire north eastern states the Tripura will also attend the protest movement of NERGIEA on March 9.

Association Agartala branch will also sit in protest in front of National Insurance Company situated at Agartala.

The Insurance Laws (Amendment) Bill, which provides for raising the foreign investment cap from 26 per cent to 49 per cent, was passed by the Lok Sabha after a short debate recently. The bill, seeking to replace an Ordinance on the subject, is likely to be taken up by Rajya Sabha after the Holi holidays ending Sunday.  However, Congress, which brought the original bill way back in 2008, was ambiguous on supporting the measure. A senior Congress leader said in private that the best thing would be to keep the bill pending in the Rajya Sabha for long as its rejection could pave the way for a Joint Session. 

However, the passage of the Bill in both the houses of Parliament is critical to make an executive order.

It is mentionable here that earlier the NERGIEA expressed their opposition to the Centre’s decision to enhance the share of Foreign Direct Investment (FDI) to 49 per cent in the insurance sector of the country from the existing 26 per cent. They also opposed the Central Governments’ proposal to disinvest 49 per cent of its share in the public sector general insurance companies of the country.