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.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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