Union Budget 2022: Approval on FDI policy tweak to facilitate LIC IPO

Inter-ministerial consultation towards changes in the foreign direct investment (FDI) ahead of the proposed initial public offering of the Life Insurance Corporation (LIC) is in the last stages.

The industry department will soon seek the approval of the Union cabinet regarding the same, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain said.

“Hopefully, it should happen very soon... All comments that will come (from different departments) will be supportive (of the proposal),” he said.