Prominent personalities from different walks of life have aired their opposition to the decision of BJP led NDA government to secure approval of the Insurance Laws (Amendment) Bill to hike FDI limit to 49% and privatise GIC and the four public sector general insurance companies. The legendary struggle of the AIIEA against FDI hike that began in 2004 has now entered a critical phase. It is a matter of great pride that except the hired pen pushers and vested interests representing the big business, the majority of our people have disapproved this decision. They fully agree with the AIIEA that the FDI hike will help the multinational corporations to gain greater access and control over the domestic savings and this is not in the interests of the national economy.
Please download the attached Circular No.10/2014 dated 28 July 2014.