Government to sell part of LIC shares
The government is selling a small part of its shares in LIC to make money. This sale could bring in over thirty thousand crore rupees.
Published Aug 3
What is the government doing?
The government is planning to sell up to six and a half percent of its shares in a big insurance company named LIC. Each share will cost three hundred eighty-two rupees.
How much money will it make?
If all the shares are sold, the government will get about thirty-one thousand crore rupees. This money goes into a special fund called the disinvestment kitty, which holds money from selling government company shares.
- The government is selling six and a half percent of LIC.
- Each share is priced at three hundred eighty-two rupees.
- The total sale can bring in thirty-one thousand crore rupees.
Why does this matter?
Selling shares helps the government raise money for public programs and other financial needs. It is one of the ways the country manages its money.