Binoy Viswam writes: Union government may claim that there have been no starvation deaths during the pandemic, the economy is robust, but credible data shows that millions of Indians have been reduced to extreme poverty.
The argument for privatising the LIC is based on the thinking that the move will augment the corporation’s efficiency. But surely the LIC couldn’t have grown from a 5-lakh company to one worth 32 lakh crore if it lacked efficiency.
The impact of unconditional dependence on foreign capital would be disastrous for the economy. We are not in a time of stability and growth. But, the government wants to hide the gravity of the crisis.