- The government will amend the foreign direct investment to facilitate the LIC public offer planned for this financial year 2022
- Anurag Jain, secretary in the department of promotion and internal trade mentioned that the current plan will not acknowledge the disinvestment process of Life Insurance Corporation of India.
The public authority is set to correct the Foreign Direct Investors policy to work with the uber public issue of LIC, which have been planned for this financial year of 2022.Â
It has been seen that the FDI is allowed in the insurance sector, yet the principles don’t matter in LIC functioning. Anurag Jain who is recognised as the secretary in the branch of advancement of industry and internal exchange said that the current strategy in the area won’t work with the disinvestment cycle of LIC, named as the Life Insurance Corporation of India, and hence needs to be revised with time for insuring a boost in the public sector of the company.
As per the updates it is quite clear that the policy makers are working on the further simpler modifications of the FDI policy, that will facilitate the LIC disinvestment and public asset management. The sources also clarify about the updates that there are 2 discussions at his level and the team of policy makers are still in the process of drafting the changes in the FDI that will be sent out for approval to the captain once all the things are in place.
Mentioning the governments focus for simplifying the lives for organisations or departments and every person, the secretary named Anurag Jain said that the public authority divisions have approached to distinguish the laws and to make a firm decision on what can be simplified in the coming months that would reduce the compliance that needs to be taken in 2 lots.
Taking in context with the decision that needs to be clarified he likewise said that the long forthcoming online business and modern strategies should be finished soon, and more elevated level of conversations would lead us to a suitable answer further.
