|
|
Govt weakening state-run insurance companies: CPI-M
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 20 Jan, 2017
The Communist Party of India-Marxist (CPI-M) on Thursday accused the
central government of weakening state-run general insurance companies
through disinvestment, which it said is "not in the country's interest".
"The
CPI-M strongly opposes the clearance given by the Union Cabinet for
disinvestment of shares in the five public sector general insurance
companies," the Left party said in a statement.
The Union
cabinet on Wednesday gave in-principle approval for the listing of New
India Assurance Company, United India Insurance Company, Oriental
Insurance Company, National Insurance Company and General Insurance
Company.
The government's shareholding would be decreased from 100 per cent at present to 75 per cent over time. "By
this step, the government is weakening the nationalised general
insurance companies which have been running well. They have been
regularly earning profits and contributing to the government's revenue,"
the CPI-M said. It said that unlike the private sector
insurance companies, it is the general insurance companies that are
executing the insurance-based welfare schemes announced by the
government. "The Modi government is undertaking this
disinvestment measure as part of the overall plan to liberalise and
privatise the financial sector. A path will be opened for more
participation of foreign insurance companies. This is not in the
interests of the people and the country," it said.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|