India, Dec. 16 -- The government on Tuesday introduced a bill in the Lok Sabha to raise foreign direct investment (FDI) in the insurance sector to 100 per cent, triggering strong protests from Opposition parties. The proposed Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 seeks to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Authority Act, 1999.

Tabling the bill, Union Finance Minister Nirmala Sitharaman said expanding insurance coverage for the common people has been a priority of Prime Minister Narendra Modi and that the government ensured protection for marginalised sections even during the Covid-19 pandemic. She said the concerns raised by Oppos...