Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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    <h1 class="cat-box-title">How Govt Milking of Cash Cow LIC is Endangering India&#039;s Most Trusted Life Insurer -Praneta Jha</h1>
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		 Published on</span><span class="text-date"> Oct 30, 2018</span>
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                            <div align="justify">-Newsclick.in<br><br><i>Govt is repeatedly turning to LIC for its disinvestment agenda. The insurer's NPAs have doubled since the Modi regime took over, and now there is the possibility of it bailing out debt-ridden IL&amp;FS. <br></i><br>Since 2014, the Life Insurance Corporation of India (LIC) has spent, at least, Rs 48,000 crore so that the Narendra Modi government can meet its disinvestment targets.<br><br>Meanwhile, the non-performing assets (NPAs) of the country?s largest insurer have doubled in this period.<br><br>For decades, millions of middle- and lower middle-class Indians have associated the name of LIC ? a central public sector enterprise set up in 1956 ? with trust and reliability. The company has nearly 41 crore policyholders (including individual and group policyholders) as on March 31, 2018.<br><br>While the sums assured by its policies (including accrued bonuses) carry sovereign guarantee, the policyholders also expect LIC to invest their premiums in prudent long-term investments that give good returns.<br><br>LIC is one of the cash-richest companies in India ? with an annual investible surplus of Rs 3-3.5 lakh crore that it invests in a vast array of companies, in both public and private sectors. As a long-term investor, it has made good returns on its investments in the past.<br><br>But LIC?s good health has increasingly become a bane for the company, as successive governments ? earlier the Congress-led United Progressive Alliance and now the BJP-led National Democratic Alliance in an unprecedented manner ? have used LIC as a cash cow and milked it.<br><br>Not only have LIC?s funds been used repeatedly by government to rescue other troubled companies, but the Modi government is using LIC to bail itself out more than anything else ? to meet its fiscal deficit targets through the destructive sleight of hand known as disinvestment.<br><br>But before we delve briefly into the logic behind disinvestment ? the Modi government has set itself a disinvestment target of Rs 80,000 crore for 2018-19 ? let us look at what has become of LIC.<br><br>Please <a href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" title="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM">click here</a> to read more.</div>                                                           
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    <br><a href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" class="re" target="_blank">Newsclick.in, 29 October, 2018, https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM</a><div class="clear"></div>
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    <h1 class="cat-box-title">How Govt Milking of Cash Cow LIC is Endangering India&#039;s Most Trusted Life Insurer -Praneta Jha</h1>
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                            <div align="justify">-Newsclick.in<br><br><i>Govt is repeatedly turning to LIC for its disinvestment agenda. The insurer's NPAs have doubled since the Modi regime took over, and now there is the possibility of it bailing out debt-ridden IL&amp;FS. <br></i><br>Since 2014, the Life Insurance Corporation of India (LIC) has spent, at least, Rs 48,000 crore so that the Narendra Modi government can meet its disinvestment targets.<br><br>Meanwhile, the non-performing assets (NPAs) of the country?s largest insurer have doubled in this period.<br><br>For decades, millions of middle- and lower middle-class Indians have associated the name of LIC ? a central public sector enterprise set up in 1956 ? with trust and reliability. The company has nearly 41 crore policyholders (including individual and group policyholders) as on March 31, 2018.<br><br>While the sums assured by its policies (including accrued bonuses) carry sovereign guarantee, the policyholders also expect LIC to invest their premiums in prudent long-term investments that give good returns.<br><br>LIC is one of the cash-richest companies in India ? with an annual investible surplus of Rs 3-3.5 lakh crore that it invests in a vast array of companies, in both public and private sectors. As a long-term investor, it has made good returns on its investments in the past.<br><br>But LIC?s good health has increasingly become a bane for the company, as successive governments ? earlier the Congress-led United Progressive Alliance and now the BJP-led National Democratic Alliance in an unprecedented manner ? have used LIC as a cash cow and milked it.<br><br>Not only have LIC?s funds been used repeatedly by government to rescue other troubled companies, but the Modi government is using LIC to bail itself out more than anything else ? to meet its fiscal deficit targets through the destructive sleight of hand known as disinvestment.<br><br>But before we delve briefly into the logic behind disinvestment ? the Modi government has set itself a disinvestment target of Rs 80,000 crore for 2018-19 ? let us look at what has become of LIC.<br><br>Please <a href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" title="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM">click here</a> to read more.</div>                                                           
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                            <div align="justify">-Newsclick.in<br><br><i>Govt is repeatedly turning to LIC for its disinvestment agenda. The insurer's NPAs have doubled since the Modi regime took over, and now there is the possibility of it bailing out debt-ridden IL&amp;FS. <br></i><br>Since 2014, the Life Insurance Corporation of India (LIC) has spent, at least, Rs 48,000 crore so that the Narendra Modi government can meet its disinvestment targets.<br><br>Meanwhile, the non-performing assets (NPAs) of the country?s largest insurer have doubled in this period.<br><br>For decades, millions of middle- and lower middle-class Indians have associated the name of LIC ? a central public sector enterprise set up in 1956 ? with trust and reliability. The company has nearly 41 crore policyholders (including individual and group policyholders) as on March 31, 2018.<br><br>While the sums assured by its policies (including accrued bonuses) carry sovereign guarantee, the policyholders also expect LIC to invest their premiums in prudent long-term investments that give good returns.<br><br>LIC is one of the cash-richest companies in India ? with an annual investible surplus of Rs 3-3.5 lakh crore that it invests in a vast array of companies, in both public and private sectors. As a long-term investor, it has made good returns on its investments in the past.<br><br>But LIC?s good health has increasingly become a bane for the company, as successive governments ? earlier the Congress-led United Progressive Alliance and now the BJP-led National Democratic Alliance in an unprecedented manner ? have used LIC as a cash cow and milked it.<br><br>Not only have LIC?s funds been used repeatedly by government to rescue other troubled companies, but the Modi government is using LIC to bail itself out more than anything else ? to meet its fiscal deficit targets through the destructive sleight of hand known as disinvestment.<br><br>But before we delve briefly into the logic behind disinvestment ? the Modi government has set itself a disinvestment target of Rs 80,000 crore for 2018-19 ? let us look at what has become of LIC.<br><br>Please <a href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" title="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM">click here</a> to read more.</div>                                                           
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<div class="clear"></div>
    <br><a href="https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM" class="re" target="_blank">Newsclick.in, 29 October, 2018, https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM</a><div class="clear"></div>
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                    Life Insurance Corporation of India (LIC)                </a>
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                   title="Non-Performing Assets (NPAs)">
                    Non-Performing Assets (NPAs)                </a>
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                   href="https://im4change.in/search?qryStr=Non-Performing Assets"
                   title="Non-Performing Assets">
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Home हिन्दी

How Govt Milking of Cash Cow LIC is Endangering India's Most Trusted Life Insurer -Praneta Jha

Published on Oct 30, 2018   Modified on Oct 30, 2018

-Newsclick.in Govt is repeatedly turning to LIC for its disinvestment agenda. The insurer's NPAs have doubled since the Modi regime took over, and now there is the possibility of it bailing out debt-ridden IL&FS. Since 2014, the Life Insurance Corporation of India (LIC) has spent, at least, Rs 48,000 crore so that the Narendra Modi government can meet its disinvestment targets. Meanwhile, the non-performing assets (NPAs) of the country?s largest insurer have doubled in this period. For decades, millions of middle- and lower middle-class Indians have associated the name of LIC ? a central public sector enterprise set up in 1956 ? with trust and reliability. The company has nearly 41 crore policyholders (including individual and group policyholders) as on March 31, 2018. While the sums assured by its policies (including accrued bonuses) carry sovereign guarantee, the policyholders also expect LIC to invest their premiums in prudent long-term investments that give good returns. LIC is one of the cash-richest companies in India ? with an annual investible surplus of Rs 3-3.5 lakh crore that it invests in a vast array of companies, in both public and private sectors. As a long-term investor, it has made good returns on its investments in the past. But LIC?s good health has increasingly become a bane for the company, as successive governments ? earlier the Congress-led United Progressive Alliance and now the BJP-led National Democratic Alliance in an unprecedented manner ? have used LIC as a cash cow and milked it. Not only have LIC?s funds been used repeatedly by government to rescue other troubled companies, but the Modi government is using LIC to bail itself out more than anything else ? to meet its fiscal deficit targets through the destructive sleight of hand known as disinvestment. But before we delve briefly into the logic behind disinvestment ? the Modi government has set itself a disinvestment target of Rs 80,000 crore for 2018-19 ? let us look at what has become of LIC. Please click here to read more.

Newsclick.in, 29 October, 2018, https://www.newsclick.in/how-govt-milking-cash-cow-lic-endangering-indias-most-trusted-life-insurer?fbclid=IwAR2uBUdmKTeaajYdLpHh3XY55mJU8O7uany6Ou_HkUy8OZ_MlWqLhyEJSZM

Tagged with: Life Insurance Corporation of India (LIC) Non-Performing Assets (NPAs) Non-Performing Assets

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