Govt, BJP reach agreement on Companies, Pension bills

New Delhi, Dec 19: The government and the BJP on Monday reached a broad agreement on the Companies Bill and the Pensions Fund Regulatory Development Authority (PFRDA) Bill paving the way for their passage in this session of Parliament.

Finance minister Pranab Mukherjee on Dec 19, Monday held a meeting with senior BJP leaders LK Advani, Sushma Swaraj and Yashwant Sinha to discuss these two legislations. Since the Left parties are opposed to them, the BJP’s support is crucial.

Sources said government agreed to the BJP demand for ensuring ‘guaranteed returns’ in PFRDA. The Standing Committee on Finance, headed by Mr Sinha, had made this recommendation.

It is not clear if the government has also conceded to BJP’s demand for defining the quantum of foreign direct investment (FDI) in PFRDA in the Bill itself instead of bringing it through an executive decision. Earlier, the BJP was adamant that if this provision is not included, it would oppose the Bill. However, it had later mellowed down its stand.

On the Companies Bill, which is listed in today’s revised list of business in the Lok Sabha, BJP wanted that the proposed law give a nod to Limited Liability Partnership (LLP). This has been agreed to by the government, according to sources.

Both the government and the BJP leaders denied that Lokpal Bill was also discussed in this meeting. They maintained that the confabulations were related only to these two Bills which the government is keen on getting passed in this session.

Corporate affairs minister M Veerappa Moily is scheduled to move the Companies Bill in the Lok Sabha today.

TMC, which is a part of the ruling UPA coalition, has certain reservations about these two Bills but has said it will not do anything which would topple the government.

PTI