The Indian government is expecting to list state-owned Life Insurance Corporation (LIC) by the end of the current fiscal year, reports Economic Times.
The government also intends to collect 500 billion rupees ($6.72 billion) as dividends from state-run companies, a senior finance ministry official said on Wednesday (11 August)
Tuhin Kanta Pandey, secretary, department of investment and public asset management, stated that the government also expects to go ahead with its stated plan to sell state-owned refiner Bharat Petroleum Corp Ltd and national carrier Air India in the current fiscal year that runs through March 2022.
Earlier, the then Union Minister of State for Finance Anurag Thakur had assured that the central government was not intending to privatise the Life Insurance Corporation (LIC).
He had mentioned that an initial public offering (IPO) of the life insurer has been planned only to enhance its market share and to attract further investment that will lead to better prospects of the policy holders.
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