Attempts to privatise LIC will fail once again: Shreekant Mishra
The Hindu
‘Centre considering it as a safe bet only to wriggle out of the economic crisis’
The attempts being made for the last 30 years to privatise the Life Insurance Corporation (LIC) of India will fail once again, All India Insurance Employees’ Association (AIIEA) general secretary Shreekant Mishra has said. “It is not being opposed from an ideological standpoint, but due to the fear of the likely impact of the strategic disinvestment of the Central government’s stake on the policyholders and the overall economy,” Mr. Mishra says. “The Centre considers privatisation of LIC as a safe bet only to wriggle out of the economic crisis by tapping the insurance giant’s massive pile of cash that runs into ₹38 lakh crore,” he argues.
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