Lok Sabha passes Pension Bill
Shailendra Kumar, supported by SP, opposed the Pension Fund Regulatory and Development Authority Bill, which proposed for the development of an authority to promote old age income security by developing pension funds. Amidst this, MInisters Kamal Nath and Kapil Sibal sought the support of SP chief MUlayam Singh Yadav, which was opposed by the Left parties.
However, SP, along with Trinamool Congress, DMK and the Left parties had their own reasons to oppose it, especially on account of "social security moneys" placed in the volatile stock market and allowing FDI to manage these "hard-earned" funds. After the court adjourned at 2pm, the BIll was finally passed.
OneIndia News
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Story first published: Wednesday, September 4, 2013, 18:22 [IST]