LIC will be in control of government after public stock proposal – Finance Minister Nirmala Sitharaman Nirmala Sitharaman

The public sector Life Insurance Corporation Federal Finance Minister Nirmala Sitharaman has said that after the issue, the government will be under the control of the LIC. In response to the budget debate in the Rajya Sabha, he said it would be listed on a state-owned initiative.

In response to this, a company can improve its executive performance by listing the stock market. That said, it could realize its market value. It also paves the way for public investment in this national organization. He said that the public can benefit from the profit the company is making.

He said the issuance of public equity would be effective after the necessary legal process has been implemented after proper regulatory approval.

The government will have a majority stake in the organization. The company will continue to operate under state control. He noted that it would protect the interests of insurers.

He said that the market share of LIC in this sector is not negligible through the issuance of common shares. As of March 2019, LIC’s market was 74.71%. The company shares 66 66.27% of the company’s premium.

According to LIC data, the company had a market share of .6 77..6% as of January 1, 2021. The company has 70.02% stake in the company’s premium collections.

Responding to another question, Cybersecurity Minister Anurag Thakur said that the government had approved the policy of exclusionary action on five state-owned companies.

Strategic stock splitting is the sale of certain shares of public sector enterprises to private companies.

Collection. 12 lakh crores of tax collection

The Rajya Sabha has reported that from April to January, direct tax collection was collected at Tk 7.22 crore.

As per the revised estimates, the target of tax collection for the current financial year is Tk 7.70 lakh crore. Anurag Thakur said that from April to January 1, the total amount, Rs 12,7222 crore was spent. Direct taxes include corporate tax and income tax.

The deadline for pre-paid taxes is March. The direct tax collection for the current fiscal year is not predictable, he said.

As per the revised estimates, the target of tax collection for the current financial year is Tk.15 lakh crore. It was 19.62 lakh crore rupees.

He said corporate taxes, income tax, tariffs and excise taxes are lower than the target.

Steve Austin

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