NEW DELHI : The finance ministry is exploring ways to infuse funds into Life Insurance Corporation of India (LIC) as it prepares to list the state-owned insurer on domestic exchanges by the end of next fiscal. This could be one of the ways to infuse funds," a senior government official said, requesting anonymity. During 2018-19, LIC generated the highest-ever total valuation surplus of ₹53,214 crore, up 9.9% on year, and paid ₹2,611 crore as dividend to the government. Out of the total target, the Centre hopes to get ₹90,000 crore from LIC and IDBI Bank stake sales. Finance minister Nirmala Sitharaman is banking upon the LIC stake sale to meet the relaxed fiscal deficit target of 3.5% for 2020-21 as well as the government’s spending commitments.

Source: Mint February 16, 2020 18:22 UTC