Priyanka Gandhi
Priyanka Gandhi, the General Secretary of the All India Congress Committee (AICC) Uttar Pradesh East, on the 20th of September, took a jibe at the Central Government’s Life Insurance Corporation of India (LIC) investment.
Ms. Gandhi said, “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.” She further added, “What kind of a policy is this that has become only a loss making policy?”
Bharatiya Janata Party (BJP)
The Bharatiya Janata Party (BJP) allegedly took Rs. 10.5 lakh crores of LIC deposits and invested the amount in the Industrial Development Bank of India (IDBI,) which is suffering losses.
Ms. Gandhi, who criticised the BJP led Central Government, said the LIC incurred losses as the Government of India (GoI) took Rs. 57,000 crores in the last two months for investment.
Ms. Gandhi took to Twitter and shared media reports to back her claims.
On the 18th of September, Ajay Maken, the Spokesperson of the INC, criticised the BJP for misusing the LIC money.
Maken said, “The entire money has been wiped off because the IDBI had a lot of debts and NPAs. At the beginning of this month, the Union Cabinet again decided to invest another Rs. 9,300 crores in IDBI, out of which, Rs. 4743 crore alone is from LIC.” He further added, “The household financial liabilities have doubled in the last five years. In 2012 to 2013, it was Rs. 3.30 lakh crores, while in 2017 to 2018 it rose to Rs. 7.41 lakh crores, an increase of Rs. 4.11 lakh crore. More than double.”
On the 3rd of September, the GoI approved an infusion of Rs. 9,300 crores into the IDBI bank.
Stay tuned for further updates.
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