Insurance and pension bill will be passed in Parl: FM

Union finance minister P Chidambaram has exuded confidence on the Insurance and Pension Bills being enacted by the Parliament. Admitting that there were differences among political parties as government had raised FDI cap from 26% to 49%, the finance minister said the government had accepted all the recommendations of Parliamentary Committee. He also mentioned that it was necessary to raise the FDI cap since the Indian banks didn't have capital to fund insurance companies. Chidambaram also defended Congress Chief Sonia Gandhi's Son in law Robert Vadra.