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.
Greens have a sizeable support in the Western countries with clean air and blue skies, but not in India, where poisonous air, water and soil kill millions.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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