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Insurance bill may not be passed even in budget session

The Insurance Regulatory Authority Bill, which has been referred to the standing committee on finance, may not be passed in the budget session as no time-frame could be stipulated for the committee to complete the work.

The IRA Bill was introduced in the Lok Sabha during the last session of Parliament. The speaker had announced that the bill would be referred to a joint committee of Parliament for scrutiny.

But no motion for the purpose could be moved and hence the idea was dropped.

The bill has now been referred to the standing committee on finance headed by Congress leader Murli Deora. The Congress, which was keen on the passage of the bill in the last session, changed its strategy and demanded that it be referred to a joint committee.

UNI

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