The CPI (M) has appealed to all political parties to defeat the Government's decision to raise the cap on foreign direction investment in the insurance and pension sectors when it comes before Parliament.
The BJP's support of the decisions has come as a ray of hope for the Government. The BJP is likely to express its views on the subject today.
The CPI(M), which has been opposing the opening up of the insurance and pension sectors, said the Cabinet's decisions will make India's finance sector more vulnerable to speculative finance capital.
“The decision to allow FDI in pension funds will jeopardise the savings of millions of employees in the country,” the party's Polit Bureau said in a statement.
The Trinamool Congress has also reiterated that it will oppose such measures in Parliament.