UPA-II gambles with another round of big bang reforms

Notwithstanding the strong opposition to its reforms agenda, the Manmohan Singh government on Thursday pressed ahead with more big-ticket reforms, raising the FDI cap in the insurance sector to 49 per cent, opening up the pension sector for foreign investment and clearing the Companies Bill, 2011. It also approved amendments to the Competition Act, 2002, and the Foreign Contracts (Regulation) Amendment Bill, 2010.

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