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India: Parliament may pass Insurance Bill by end of 2014, says minister

August 27, 2014 - 7:13am

India's Union Finance Minister Arun Jaitley has said that Parliament may pass the Insurance Bill for increasing the foreign direct investment limit to 49% by the end of 2014, reports The Hindu.

Mr. Jaitley said Parliament will approve amendments to the Insurance Act "hopefully by the end of 2014."

India's new government has proposed some amendments, including a condition that management control remains with an Indian promoter firm.

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