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Budget 2018: Govt to merge 3 insurance cos, list entity on stock exchange

The minister also said the government has begun strategic disinvestment in 24 public sector units (PSUs), including national carrier Air India

Press Trust of India  |  New Delhi 

FM Arun Jaitley presenting the budget in the Parliament
FM Arun Jaitley presenting the budget in the Parliament

As part of divestment of public sector entities, Finance Minister Arun Jaitley today said the government will merge three general insurance firms into one and subsequently list the entity on stock exchanges.

"Three public sector general insurance companies -- National Insurance Co Ltd, and -- will be merged into a single insurance company and be subsequently listed," he said while presenting the 2018-19 in Parliament today.

The minister said the government has begun strategic in 24 public sector units (PSUs), including national carrier Air India.

As part of divestment of stake in its general insurance firms, the government diluted stakes in New India Assurance Co Ltd and and General Insurance Corporation of India last year.


First Published: Thu, February 01 2018. 15:33 IST
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