New Delhi, March 24 : As part of the ongoing
reforms in the financial sector, the Indian government Thursday tabled a
bill in parliament to promote and regulate pension funds in the
country, while remaining silent on the issue of foreign investment.

With
unexpected support of the opposition Bharatiya Janata Party (BJP),
Parliamentary Affairs Minister Pawan Kumar Bansal introduced the bill in
the Lok Sabha, the lower house, after Speaker Meira Kumar allowed a
division of votes pushed by Left parties.

Officially called the
Pension Fund Regulatory and Development Authority Bill, 2011, it also
proposes an empowered watchdog to regulate old age security. The present
watchdog has been functioning without any parliamentary sanction.

According
to Congress party leaders, Prime Minister Manmohan Singh and Finance
Minister Pranab Mukherjee could not be present in the house during its
introduction as the speaker had cleared the lobbies, following which no
member is allowed to enter the house.

Among the 159 members present in the 543-member house, 115 backed the bill, 43 opposed it while one abstained.(IANS)