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Bansal has twice defeated BJP candidate Satya Pal Jain and has been defeated by him an equal number of times. While the Congress party had garnered 47 per cent votes in the 1999 elections, this increased to 52 per cent in the 2004 elections.
Bansal is the Union Minister of State for Finance and Parliamentary Affairs in the current Congress-led UPA government. He has been a member of the Lok Sabha Ethics Committee, Standing Committee on IT (Convener, Sub-Committee on Convergence Bill), Consultative Committees for the Ministries of Home Affairs and Information and Broadcasting, Business Advisory Committee, Joint Select Committee on CVC (Amendment) Bill, 2001, Estimates Committee, Standing Committee on Commerce, Rules Committee and General Purpose Committee.
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