Ordinances on coal, insurance get president's nod

New Delhi, Dec 26: President Pranab Mukherjee signed two key ordinances Friday, clearing the way for the auction of coal blocks that were ordered cancelled by the Supreme Court, and for a hike in foreign equity cap in the insurance industry from 26 percent to 49 percent. The legislations for the two measures could not be taken up in the Rajya Sabha as the opposition did not allow the upper house, where the government is in minority, to conduct business during the last few days of the winter session that ended Tuesday. A cabinet meeting Wednesday, presided over by Prime Minister Narendra Modi, decided to issue the two ordinances so as to send a strong signal that the government will pursue reforms and would not allow disruptions in parliament to come in the way, an official said.