Insurance may get 'strategic sector' tag under new privatisation policy

The Centre may classify insurance as a ‘strategic sector’ under the new privatisation policy, according to government sources. In other words, there will be a maximum of four state-owned insurance firms in the long run.

Other sectors that could get the ‘strategic’ tag are railways, oil and gas, defence, space and atomic energy. Banking is also likely to be in the club, with the government considering putting up some state-owned banks on the block.

Based on the new privatisation policy announced by Finance Minister (FM) Nirmala Sitharaman as part of the Atmanirbhar Bharat package, the government will come up with a list