On the brink of disaster

On Thursday, June 7, the Union cabinet decided not to take up the Pension Fund Regulatory and Development Authority Bill. Its spokespersons privately blamed the Trinamool Congress. The Bill itself was tepid and met only some of the expectations of pension reformers. It was scarcely a blockbuster and controversial measure. In its current form, the proposed legislation found the support of the BJP. Its passage in Parliament would not have been a problem.

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