Apropos the editorial "Pass the Bill" (August 7), do we seriously believe that any political party is for reforms in the insurance sector? The state-owned Life Insurance Corporation (LIC) plans to raise a corpus of Rs 32 lakh crore by 2020 and invest Rs 60,000 crore in equity this financial year. The power of the government to control investments for these purposes is too tempting to stand dilution and competition. It seems that corporations, too, are rather cold to external agencies because they would be more professional and exacting. There will be a lot of noise and activity for insurance reforms, but hardly any concrete action.
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R Narayanan Ghaziabad
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number