Government defers decision on pension reformsJune 7th, 2012 - 8:59 pm ICT by IANS
New Delhi, June 7 (IANS) The government Thursday deferred a decision on pension fund reforms following opposition from key ally Trinamool Congress.
The Pension Fund Regulatory and Development Authority Bill, 2011, which seeks to allow private and foreign investments in pension sector and introduce comprehensive reforms, was listed in the agenda of the federal cabinet meeting for its approval.
However, the meeting chaired by Prime Minister Manmohan Singh chose to defer the decision on the bill following opposition from Trinamool Congress, sources said.
Trinamool Congress member and Railway Minister Mukul Roy is believed to have opposed the bill in a letter written to the prime minister and Finance Minister Pranab Mukherjee.
According to sources, Roy has sought more discussions on the bill saying his party’s views have not been taken into consideration while formulating the bill.
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Tags: ally, cabinet meeting, congress member, federal cabinet, finance minister, foreign investments, manmohan, manmohan singh, mukul, New Delhi, opposition, pension fund, pension reforms, pranab mukherjee, prime minister manmohan, prime minister manmohan singh, railway minister