50 Years Ago After Indira Gandhi Govt Overnight Nationalised 107 General Insurance Companies, Modi Govt Makes Amends To Undo It swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
India needs more private insurance companies. Govt must use Covid trigger to make this happen
More players could make the market more competitive as they would vie to offer accessible and low-cost insurance products.
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The Union Cabinet has cleared amendments paving the way for privatisation of one state-owned general insurance company.
In her budget speech, Finance Minister Nirmala Sitharaman had said that the government will take up two public sector banks and one general insurance company for privatisation in the current financial year.
Public sector insurance firms hold a greater share of the market even though they are fewer in number. Lesser competition, low levels of capital and weak financial health of public sector insurance firms make it difficult for them to offer low-cost affordable insurance products. They are unable to cater to the emerging risks a fact that is truer in the aftermath of Covid-19.
Controlling inflation has been one of Modi s biggest successes – but is it faltering now?
Controlling inflation has been one of Modi s biggest successes – but is it faltering now?
High inflation is seen to be one of the principal reasons for the UPA’s loss in 2014. Reuters/Danish Siddiqui
There are few issues more politically sensitive in India than inflation or rising prices. With frequent elections across the federal framework and the Union government being seen as responsible for economic policy, ruling parties in India go to great lengths in order to keep prices in check.
Stubbornly high inflation rates in the final years of the Congress-led United Progressive Alliance government, following the global economic crash, are often credited as being one of the key reasons why it was voted out in 2014.
The deadly second wave of Covid battered an already bruised economy. India now needs policy vision out of the ordinary to restore consumer confidence, businesses and livelihoods - Issue Date: Jun 14, 2021