With the Sensex having reached
levels below 14,000 many have a feeling that the index has completely bottomed out.
Funds from abroad are not coming in while the high rate of inflation is forcing
the domestic investor to put his money elsewhere. There are some who also feel
that the Sensex will fall to lower levels perhaps around ten or eleven
thousand.
This is why July 22nd is an
important date.
Within an hour of the Government Trust
Vote held in the month of July this year, business reporters stormed the Finance
Minister and bombarded him with umpteen questions. Before rushing off to his
waiting car the Finance Minister highlighted the need to approve three
important finance laws. One of them which has been on the backburner since the
first year of the present government is the Insurance Laws Bill. Insurance
sector wise, the immediate priority for the Finance department is to table the
amendments to this bill which will raise FDI (Foreign Direct Investment) in the
Indian Insurance sector to 49%. 
