After Nirmala Sitharaman clearly mentioned that the finance ministry does not issue advisory or directions to Life Insurance Corporation of India (LIC) regarding its investment decisions, Economist Manish Barriarr supported her remarks, saying that there are vested interest and people should be really careful by not making unnecessary statements regarding LIC investments.
Sithraman emphasised that the investments that the state-owned insurer made in Adani Group were as per established SOPs.
Economist Manish Barriarr said, “There is a very concerted effort by vested interests who are inimical to India, to really malign LIC. That is what Union Finance Minister Nirmala Sitharaman has said. She said very clearly that there are SOPs and LIC invests accordingly. There are other institutions also. India is a democratic country, and it has a very deep financial security system. There are a lot of red flags in Indian financial systems and right from SEBI to IRDA work very diligently to ensure that none of these things happen.”
#WATCH | Patna, Bihar: On FM Nirmala Sitharaman's statement on LIC investments, Economist Manish Barriarr says, "There is a very concerted effort by vested interests who are inimical to India, to really malign LIC. That is what Union Finance Minister Nirmala Sitharaman has said.… pic.twitter.com/noxtTOUGle
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“When a person like Finance Minister is saying, it carries a lot of weight. LIC does not invest more than 1%. Why would Indians, especially Congress people, talk about someone like Washington Post whose news has been proved to be fake news a lot of time. People do understand that there are vested interests, there is a geopolitics that is going on and therefore, I think we should be really careful by not making unnecessary statements regarding LIC investments,” Barriarr further added.
