Centre Agrees To More Varishta Policies

Subsidy on the pension plan to be raised

There is good news for senior citizens who has missed the bus and had not yet bought a Varishta Bima Yojana.

The government has decided to increase the budgeted subsidy on the scheme that was initially fixed at Rs 30 crore this year.

Top LIC officials told Business Standard that the government has agreed to increase the subsidy element for the scheme and this will allow the life insurance major to sell as many policies as it can.

Insurance sector experts said the government