City
Epaper

Centre attempting to promote privatisation through disinvestment of LIC, says Saamana

By ANI | Published: February 03, 2020 9:03 AM

Shiv Sena, through its mouthpiece Saamana, said that centre is making an attempt to promote privatisation by announcing the disinvestment of the Life Insurance Corporation (LIC) and IDBI Bank.

Open in App

Shiv Sena, through its mouthpiece Saamana, said that centre is making an attempt to promote privatisation by announcing the disinvestment of the Life Insurance Corporation (LIC) and IDBI Bank.

On February 1, Union Finance Minister Nirmala Sitharaman announced during her Budget speech in Lok Sabha the government's plan to sell a part of its holding LIC by way of Initial Public Offer (IPO).

"An attempt is being made to promote privatisation by announcing the sale of government share in LIC and IDBI Bank. Earlier, an announcement has already been made regarding the sale of Air India and Bharat Petroleum," Saamna says in its editorial.

"Now a company like LIC, which is related to the life and death of the general public, has too become a burden now. If the privatisation by the government continues at a rapid pace, then the government will be accused of conspiring to increase private stake in the competent government compes," the mouthpiece read.

The Saamana editorial further criticised the Union Budget by asserting that it 'does not provide anything' for the middle class and service-class citizens.

"Like always, Mumbai and Maharashtra have been ignored in this budget," the editorial read.

Union Finance Minister Sitharaman presented the Budget for FY2020-21 in Parliament on Saturday.

( With inputs from ANI )

Tags: LICNirmala SitharamanUnion FinanceUnion BudgetIdbi Bank
Open in App

Related Stories

NationalBank Job Openings: Banks to Hire Young Graduates as Apprentices in a Month; Pay Stipend of Rs 5,000

NationalPradhan Mantri Jan Dhan Yojana: Total Deposits in PMJDY Accounts Stand at Rs 2,31,236 Crore

NationalTMC Leader Derek O’Brien Urges FM Nirmala Sitharaman To Withdraw 18% GST on Health and Life Insurance Premiums

NationalPM Narendra Modi Greets Finance Minister Nirmala Sitharaman on Her 65th Birthday (See Tweet)

NationalNitin Gadkari Urges FM Nirmala Sitharaman to Remove 18% GST on Life and Medical Insurance Premiums

National Realted Stories

NationalManipur Police rescue minor girl, held accused

NationalCongress again demands removal of Maharashtra DGP for fair & transparent election

NationalAll Employees of Tirupati Balaji Temple Should Be Hindus, Says TTD Chief BR Naidu

NationalAssam online trading scam: Accused hiding information during interrogation, says police

NationalManipur govt to set up memorial for Major Ralengnao Bob Khathing