Modi government is keen to go ahead with LIC’s IPO — potentially India’s biggest — to help plug a widening budget gap. LIC had total assets of Rs 32 lakh crore in FY 2019-2020.
According to the statement, the extent of respective shareholding to be divested by govt & LIC will be decided at the time of structuring of transaction in consultation with RBI.
Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, says the government's exit from many sectors will help it to neutrally administer its policy-making role.
Modi government is unlikely to earn the money it had hoped to this year due to Covid. The last thing it needs is slowing down on Rs 2.1 lakh crore disinvestment plan.
Yes Bank should’ve been overseen by a Resolution Authority, depositors shouldn’t have had to face moratorium. Now SBI or LIC shouldn’t be forced to buy it.
If done right, IPO can bring transparency & efficiency to LIC, ensure govt doesn’t force it to buy weak PSUs, and improve resource allocation in the economy.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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