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Sunday, Oct 20, 2019

Govt investing LIC money in loss-making firms, shattering people’s trust: Priyanka Gandhi

The Congress on Wednesday had accused the government of “sacrificing” public money by investing in loss-making public sector units and said it was using the LIC as an instrument to meet its ends.

india Updated: Sep 20, 2019 17:12 IST
Press Trust of India
Press Trust of India
New Delhi
Priyanka Gandhi Vadra tweeted about the centeral government investing money in loss making firms.
Priyanka Gandhi Vadra tweeted about the centeral government investing money in loss making firms.(PTI Photo)
         

Congress leader Priyanka Gandhi Vadra on Friday alleged that the Modi government was “shattering” people’s trust in LIC by investing the state-run insurance firm’s money in loss-making companies.

Taking to Twitter, she also tagged a media report which claimed that LIC has suffered losses of Rs 57,000 crore in just two and a half months.

“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,” Priyanka Gandhi said in a tweet in Hindi.

 

“What kind of a policy is this that has become only a loss-making policy?” she said.

The Congress on Wednesday had accused the government of “sacrificing” public money by investing in loss-making public sector units and said it was using the LIC as an instrument to meet its ends.

Senior Congress spokesperson Ajay Maken had cited an RBI report and claimed that the Life Insurance Corporation of India (LIC) has doubled its investment in “risky” public sector undertakings in the last five years from Rs 11.94 lakh crore to Rs 22.64 lakh crore.

(The story has been published from a wire feed without any modifications to the text.)

First Published: Sep 20, 2019 17:12 IST

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