Energy Minister Panagiotis Lafazanis and Deputy Labour Minister Dimitris Stratoulis also voted against the package.
A month after he resigned as the prime minister, Alexis Tsipras won the snap elections in Greece.
With 75 per cent of votes counted, the ND party was leading with 39.6 per cent of total votes heading towards a majority in the 300-member Greek Parliament, while Tsipras' leftist Syriza was behind with 31.6 per cent of total votes, CNN reported.
Syriza lawmakers walked the corridors telling reporters the government might not survive the night.
It's hoped the negotiations can be wrapped up by August 20.
Over the past week, the Sensex and the Nifty continued the bull-run
The legislation passed with 230 votes in the 300-seat chamber.
Formal negotiations are due to start in Athens on Friday.
An International Monetary Fund study published on Tuesday showed that Greece needs far more debt relief than European governments have been willing to contemplate so far, as fractious parties in Athens prepared to vote on a sweeping austerity package demanded by their lenders.
Prime Minister Alexis Tsipras battled to win lawmakers' approval on Wednesday for a bailout deal to keep Greece in the euro and avoid bankruptcy, as the IMF pressured Greece's creditors to provide massive debt relief for its crippled economy.
The move follows a pitch invasion at the end of the Athens derby last weekend and a Super League board meeting which ended in a brawl on Tuesday, with Greece's recently-elected Syriza ruling party aiming to stamp out the problem of crowd violence.
The junior coalition partner of Greek Prime Minister Alexis Tsipras pledged on Tuesday to continue support for the government.
Euro zone policymakers have openly spoken out in favour of a 'yes' vote
Their reopening followed Prime Minister Alexis Tsipras' reluctant acceptance of a tough package of bailout demands from European partners
A second vote will be held on Wednesday, on measures including justice and banking reforms, when a similar outcome is expected.
'Chinese companies have acquired stakes in 13 ports in Europe, including in Greece, Spain and, most recently, Belgium.' 'Those ports handle about 10 percent of Europe's shipping container capacity,' points out Ambassador M K Bhadrakumar.
Greece awoke with a political hangover on Thursday after parliament approved a stringent bailout programme, thanks to the votes of the pro-European opposition, amid the worst protest violence this year.
It will be difficult for the Indian equity to outperform overall growth to the extent bullish observers expect.
The European Commission urged Greece to stick to commitments it has made to reform its economy as Prime Minister Alexis Tsipras called a snap election within hours of new EU bailout cash arriving in Athens.
Tough conditions imposed by global lenders could cause an outcry.
Greek proposals hailed as "a positive step forward".
India's macroeconomic environment is improving, but it is still not past the point where it can ignore the developments in the global markets
Greeks greeted news of a deal with creditors on Monday with a measure of relief mixed with much anger.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
India must reckon with the possibility that it will struggle to attract higher overseas investment.
ONGC, Sesa Sterlite, Tata Steel, RIL and HDFC emerged as the biggest losers
Athens has pushed two reform packages through parliament
Greek Finance Minister Yanis Varoufakis announced his resignation on Monday, a day after Greeks delivered a resounding 'No' to the conditions of a rescue package.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
Athens bowed to demands to phase out tax breaks for its islands.
Deadline to submit convincing reform plans is this week.
The crisis remains acute with the country's banks already closed.
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
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