Budget Talks: Beginning of the People's Movement Against LIC Sales

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To sell LIC to the nation's largest insurance company Against Nationwide: Employees

New delhi date. February 2, 2020, Sunday

The government has decided to sell LIC's partnership, which was announced by Finance Minister Nirmala Sitaram in this budget. LIC's IPO may be released in the second half of FY 2021.

On the other hand, the government's decision to sell LIC's partnership has now seen resentment among LIC employees. LIC employees announced a nationwide strike on February 4.

However, the strike will be one hour after which the workers will return to the demonstration and try to soak the government. While presenting the budget to Finance Minister Nirmala Sitaram on Saturday, it announced that the government would sell its stake in LIC. LIC is the largest insurance company in the country.

"We will strike on Tuesday from 12.30 am to one hour away from work," he told the LIC staff association. After which all our offices will also be showcased.

Later we will get on the road and we will oppose the government's decision to sell LIC's stake. Leader of the LIC employees' association Pradeep Mukherjee said that LIC is the largest government company in the financial sector, which has also surpassed SBI.

Employee leaders say that it is against the national interest to sell its share in such a situation. The All India Insurance Employees Association (AIIEA) has also opposed the government's move and said that we are with LIC employees in the strike.

Following which, the employees of LIC will now hold a rally on February 4th, as well as hold rallies on the road. There are reports that the country's largest IPO will belong to LIC, which will outlast Reliance. An IPO will be brought to the stock market to sell a portion of which LIC has a 100% stake.

Through this IPO, the Modi government wants to receive Rs 72,000 crore as the government currently lacks money and has launched several projects on the other hand, but the lack of money has not been fulfilled. At the same time, GDP is at a lower level as well. Earlier, the government had made a similar decision on Air India.

Selling national assets deadly for the country: The fury of the union's sub-organization

Selling wealth to raise money is a sign of bad economy, foolish decision: Indian labor union

New delhi date. February 2, 2020, Sunday

The Modi government at the Center has submitted a budget, during which it announced the sale of LIC's stake. However, this decision has upset one RSS organization. It has also told the government that it is not appropriate to sell government companies in this way.

Bharatiya Mazdoor Sangh (BMS), a subsidiary of the union, has warned that the decision taken on the LIC could prove fatal in the coming days. At the same time, the union also criticized the government's economic policies. The labor union said that the way to raise money by selling national assets is an example of bad economics.

The union also criticized the policies of government officials, ministers and economic advisers, and said that the officials who were assisting the government did not have sufficient knowledge. At the same time, the government requested the union to try to raise money without selling national assets if possible.

Thus, the step of selling assets can prove to be deadly for the country in the days to come. The government's decision to sell LIC, Air India's stake is now being criticized on all sides. However, no statement has been made by the government on changing its decision on the issue.