FDI
♦ The Union Cabinet approved a proposal to raise the foreign direct investment (FDI) limit in insurance firms from 74% to 100% on 12 December 2025. The move is expected to draw substantial foreign capital, increase competition, and improve customer services across India’s insurance market. ♦ By lifting the cap, the government aims to attract long-term global investors and deepen the sector’s capital base. ♦ The reforms form part of a broader push to expand insurance penetration and align with the government’s long-term vision of achieving ‘Insurance for All by 2047’. ♦ To give effect to the changes, amendments to the Life Insurance Corporation Act, 1956, the Insurance Regulatory and Development Authority Act, 1999, and the Insurance Act, 1938 will be introduced as part of the comprehensive legislative exercise. MGNREGA name changed: ♦ The Union Cabinet is likely to approve renaming the national employment scheme from MGNREGA to Pujya Bapu Gramin Rojgar Yojna. The government will bring the Pujya Bapu Gramin Rozgar Guarantee Bill for MGNREGA, which will guarantee 125 days of work to the rural poor in a year. The government will allocate Rs.1.51 lakh crore. ♦ The National Rural Employment Guarantee Act 2005 (NREGA), later renamed as the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), is a labour law and social security measure that aims to guarantee the “right to work”. ♦ It aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work.