Won't support FDI in pension, insurance, says SP

The Samajwadi Party will continue to support the Congress-led government, a party leader said, but would oppose plans to open up insurance and pension sectors to foreign investors.

The Samajwadi Party (SP) will continue to support the Congress Party-led government, a party leader said, after the DMK withdrew from the ruling coalition in protest against the government's position on a UN resolution on Sri Lanka.

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The SP, which is not part of the coalition but supports it in parliament, said however, it would oppose plans to open up insurance and pension sectors to foreign investors.

"We will continue to support the government but we are against FDI (foreign direct investment) in insurance and pension sectors," Samajwadi Party leader Ram Gopal Yadav said.