The UPA government has moved the Pension Fund Regulatory and Development Authority (PFRDA) Bill in the Lok Sabha on 24th March 2011 amidst strong protest from the Left and many other opposition parties. The Left parties demanded for a voting on the presentation of the bill and the speaker allowed the same. There was panic in the government side since they were lacking in numbers if voting takes place since many members on its side were not present. It is reported that the Congress sought the support of the main opposition party, BJP in moving the bill and it shamelessly supported. What would have been a great debacle for the ruling party was avoided by the support of the BJP. The voting took place and 115 got in support and 45 against, and the bill was moved. The bill which could not be moved in the UPA I government due to the strong opposition of the Left parties have now been moved with the support of the BJP. The hypocrisy of the BJP has been once again exposed. Both the Congress and the BJP are two sides of the same coin, birds of the same feather, when it comes to attacks on the workers.
The working class has to continue its sustained and mighty struggles against this bill which wants the Pension funds of thousands of crore of rupees to be put in the share market for the benefit of the big business and speculators, endangering the pension of crores of employees.