-The Hindu Decision taken “in the context of the onslaught of the government”, it says The Bharatiya Mazdoor Sangh (BMS) affiliated to the RSS has announced a phase-wide agitation from March 15 to November 11 against the proposed disinvestment programme of the public sector units (PSUs) by the Union government. The decision was taken at a two-day meeting of the BMS’ PSUs Coordination Committee in Hyderabad that ended on Friday. The meeting came...
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Employees' unions oppose govt plan to sell shares in LIC
-PTI Finance Minister Nirmala Sitharaman said the Life Insurance Corporation of India (LIC) will be listed as part of the government disinvestment initiative. LIC employees' unions on Saturday opposed the Centre's plan to sell a part of its shares in the state-run insurance behemoth through an initial public offer (IPO), insisting that the move is "against the national interest". Please click here to read more. ...
More »Modi govt's disinvestment targets make LIC's health, wealth deteriorate -Prudhviraj Rupawat
-Newsclick.in LIC’s bad loans bulged by 145% in the last five years to Rs 30,000 crore in September 2019. Life Insurance Corporation of India (LIC) has been struggling with rising non-performing assets (NPAs) and downgraded investment portfolio of Rs 67,387 crore, reveals the insurer’s latest public disclosure figures. The biggest public insurer has been witnessing a deteriorating health since 2014, significantly due to massive investments in cash-strapped public and private entities pushed...
More »Will the government's stand on privatisation of public sector units help the economy? -K Bharat Kumar
-The Hindu * What is the push behind the strategic disinvestment move? What are the gains? The story so far: On November 20, the government announced that it would sell stakes in several public sector undertakings (PSUs) and even give up management control in some. The Central government will cede full management control to buyers in the case of oil marketing company Bharat Petroleum Corporation Ltd. (BPCL), Shipping Corporation of India (SCI)...
More »Explaining the Rise in Revenue Deficit Between Modi Govt's Interim and Full Budgets -Aneesha Chitgupi
-TheWire.in While the revenue deficit is estimated to increase in the Union Budget in comparison to the interim one, the fiscal deficit shows a decline thanks to the increase in capital receipts especially through disinvestment. A comparison between the Interim Budget (IB) presented on February 1, 2019, and the full Union Budget (FB) presented before parliament on July for the current fiscal year (2019-20) throws up some intriguing questions. While most commentators have...
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