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New Delhi Feb. 13 The Union Finance Ministry is understood to have made its presentation before the Group of Ministers on insurance, headed by the External Affairs Minister, Mr Pranab Mukherjee, which met here on Tuesday. The GoM will decide on the fate of the amendments to the Insurance Bill and other related legislation.

The GoM is expected to meet again, but no dates have been indicated as yet. It may meet again before the Budget.

The Bill, which proposes to increase the foreign direct investment cap for insurance companies to 49 per cent from the present 26 per cent, was referred to the GoM after the Cabinet in December last year deferred a decision on contentious issues.

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