Won't exit fully, but will ensure minimum govt presence in insurance: FM

Sitharaman says may even think in terms of amalgamating, or disinvesting in some entities where even bare minimum is not needed

Reiterating the fact that the union government will have a bare minimum presence in the strategically important sectors, finance minister, Nirmala Sitharaman, on Wednesday said, banks, financial institutions, and insurance have been identified as strategic sectors, hence the government will not completely exit these sectors but will have a minimum presence.

Addressing the media, Sitharaman said, “During the budget, a public enterprise policy was announced, wherein we had identified certain strategically important sectors and in them, the bare minimum presence of the government will be there. Banks, financial institutions, and insurance are identified as strategic sectors, which means the government’s minimum