The Union Cabinet on Thursday cleared the proposal to raise foreign direct investment (FDI) in the insurance sector from the current 26 percent to 49 percent.
The decision was taken at a meeting held this morning.
The government was earlier expected to cap the voting right of overseas partner in joint ventures at 26 percent under the Insurance Laws (Amendment) Bill, 2008, but details on the same were not available as yet.
But no details of the same were available either.
“The government is seeking the views of various political parties and eminent jurists on the proposal for setting up of a Judicial Appointments Commission,” Law Minister Ravi Shankar Prasad had recently told the Lok Sabha.
The issue has gained importance in the wake of recent incidents wherein the government returned the collegium recommendation of appointing an ex-Solicitor General as a Supreme Court judge, and a former High Court Chief Justice alleging that a corrupt judge was given an extension by the previous UPA government against collegium's wishes.
Also today, the Cabinet was expected to discuss the Constitution Amendment Bill to set up the Judicial Appointments Commission to replace the present system of appointing judges through a collegium.
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