February 1, 2020
Ambush on public institutions: Mamata Banerjee on Union Budget 2020-21
Bangla Chief Minister Mamata Banerjee on Saturday slammed the Narendra Modi-led-Central government’s proposal to sell a part of its shares in LIC, describing it as a plan to “ambush” the legacy of public institutions.
“I am shocked and appalled to see how the central government plans to ambush the heritage and legacy of public institutions. It’s the end of a sense of security. Is it also the end of an era?” Mamata Banerjee tweeted on Saturday, hours after Union Finance Minister wrapped up her longest-ever Budget speech in Parliament.
Established in 1956, LIC is fully-owned by the Central government and has the highest market share in the life insurance segment in the country.