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Government is investing LIC’s money in loss making companies: Priyanka

Government is investing LIC's money in loss making companies

Congress General Secretary Priyanka Gandhi Vadra said that the Central Government is investing the life insurance corporation of India (LIC) in loss making companies, which is shattering the trust of common people of the country. He said this by citing a Mee Dia report. He tweeted that LIC is another name for trust in India. Common people invest their hard earned money in LIC for future security, but the BJP government is investing LIC money in loss making companies, shattering their trust. He questioned that what is this policy that has become a loss policy only? According to the media report that Priyanka cited, selling in the stock market is also affecting many companies and in the last two and a half months, LIC has lost about Rs 57,000 crore from investing in the stock market. In fact, the companies in which LIC had invested, the market capitalization of those companies has registered a significant decline. On the other hand, citing a report of the Reserve Bank of India (RBI) released by the Congress, on Wednesday alleged that the Narendra Modi government is engaged in sacrificing the Life Insurance Corporation of India (LIC) by investing money in risky public sector units.

Congress General Secretary Priyanka Gandhi Vadra said that the Central Government is investing the life insurance corporation of India (LIC) in loss making companies.

Government is investing LIC's money in loss making companies

Senior party spokesperson Ajay Maken said that till 2014, LIC’s investment in risky public sector units was Rs 11.94 lakh crore, but it has increased to Rs 22.64 lakh crore in the last five years after the Modi government came to power. He claimed that between 1956 and 2014, LIC invested twice the investment in risky units within five years of the Modi government. Maken alleged that there would not be any person or family among us who is not related to Life Insurance Corporation of India. In some way or the other, every person within the family is a policy holder. If institutions like Life Insurance Corporation of India start sacrificing a bad economy, then you can understand the condition of the poor and middle class people inside the country.

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