New Delhi: About 1.25 lakh employees of LIC are on a day’s strike against the decision of the Central Government to bring IPO of Life Insurance Corporation of India and increase foreign investment. Significantly, the central government has decided to increase the limit of foreign investment in insurance companies from 49% to 74%. A bill has been introduced in the Rajya Sabha. VP Arora, leader of the All India Insurance Employees Association, said in a conversation with NDTV about the LIC strike, “We are against LIC’s decision to bring an IPO.” We are also against the government’s decision to increase FDI from 49% to 74% in insurance companies. The employees of Life Insurance Corporation of India, who are striking, say that the LIC is the trust of the people of India and these decisions of the government will reduce the confidence of the people on LIC.
On the other hand, on the day of the strike of LIC employees, the government introduced the Insurance Amendment Bill in the Rajya Sabha. The bill provides for increasing FDI in insurance companies from 49% to 74%. Leader of Opposition in Rajya Sabha Mallikarjun Kharge demanded that the bill needs to be reviewed afresh and sent to the Parliamentary Standing Committee. On not getting any assurance from the government, Congress MPs created a ruckus in the House and raised slogans against the government.
