Finances 2020 | Authorities To Promote Stake In Life Insurance coverage Company Through IPO

Finance minister Nirmala Sitharaman said the government will sell a part of its stake in Life Insurance Corporation (LIC) through an Initial Public Offering (IPO). The insurance behemoth will be listed as part of the government’s disinvestment initiative, the Finance Minister Nirmala Sitharaman said during her Budget speech on Saturday.

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  1. LIC will never be in loss for approx. 50 yrs, because it's fund value is so huge. Take example of This year only where other sectors are trembling, LIC gave ₹2610.74 crores as a surplus profit to finance minister and the total surplus of 2018-19 was ₹53,214.41 crores out of which 5% is given to the govt.
    I don't understand the motive behind this move.

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