President signs Coal and Insurance Ordinances

President Pranab Mukherjee

President Pranab Mukherjee has signed two key ordinances on Coal and Insurance.

The Coal Mines (Special Provisions) Bill, 2014, was passed by the Lok Sabha, but could not be taken up for discussion in the Rajya Sabha due to which the government recommended a re-promulgation of the coal ordinance.

In the Insurance Amendment Bill, the government recommended promulgation of a fresh ordinance, for an FDI hike from 26 per cent to 49 per cent in the sector.

13 of the 16 Bills taken up by the Lok Sabha were passed without being referred to parliamentary standing committees.

This Ordinance Raj is being opposed by the opposition parties.