New Delhi, Nov 24 (IANS): Bahujan Samaj Party supremo Mayawati Monday said there was no reason for her party to oppose the insurance bill if the select committee, which was scrutinizing the bill, accepts their suggestions.

"The select committee hasn't taken a decision on the insurance bill yet... if our suggestions are accepted why would we oppose it," she told media persons outside parliament here.

The insurance bill was sent to a select committee of the Rajya Sabha after the government was unable to garner support for it in the last session.

Mayawati said her party will only take a stand after the select committee's decision. "We will put forth our demands to the select committee, if the committee agrees to those demands, then why would we oppose the bill?"

The insurance bill proposes to raise the foreign direct investment (FDI) cap in the insurance sector to 49 percent from the existing 26 percent.

Various parties, including the Communist Party of India-Marxist, the Trinamool Congress, the Janata Dal-United, the Rashtriya Janata Dal and the Samajwadi Party are likely to oppose the bill.