-Press released by All India Kisan Sangharsh Coordination Committee (AIKSCC) dated 1st February, 2020 Delhi, February 1st 2020: Budget fails to increase rural demand and purchasing power which would have boosted the economy - instead, the Budget only boosts the profits of big corporates and MNCs, said AIKSCC. When the crying need in India’s economy is to increase the demand and purchasing power in rural areas, and hence rural incomes, the...
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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 »In Maharashtra, linking land records to PM Fasal Bima saves time, plugs leaks -Parthasarathi Biswas
-The Indian Express Does away with need for village revenue officer’s signature; guards against crop insurance fraud. Pune: Early in December, when Bhagwan Ingole, a farmer from Malegaon in Ardhrapur taluka of Nanded went to the Citizen Facilitation Centre in his village to insure his one acre of rabi chana (bengal gram) crop, he was in for a surprise. During the previous seasons, the operator of this one-stop shop catering to most...
More »Centre pushes for transfer of Sebi's surplus into its accounts -Rajeev Jayaswal
-Hindustan Times Sebi and some of the other regulators initially opposed the plan, citing concerns about loss of autonomy, but the government wants to go ahead with its plan, and finalise the transfer before the next budget is presented on February 1, 2020. New Delhi: The government is pushing ahead with its plan, underlined in Union Budget 2019, to transfer 75% of market watchdog Securities and Exchange Board of India’s (Sebi) surplus...
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