I am sending my suggestions regarding Budget 2009 to be published in 'Budget Line' in BUSINESS LINE.
Regards
Mohanan
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DO NOT PRIVATISE PUBLIC SECTOR INSURANCE COMPANIES
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The Government should not go for disinvestment of public sector general insurance companies. The recession is not much affected our economy due to the strong presene of Public Sector banks and insurance companies. To contain the 'global meltdown' ,Western countries are introducing stiff regulations and control over their private financial institutions. We cannot
forget the fact that to bail out the insurance giant AIG (American International Group) from rout, the USA government had to spend crores of money from the public exchequer . The Finance Minister should take steps to strengthen the four public sector general insurance companies by amalgamating them into a single Corporation.
Further, the move to increase the Foreign Direct investment (FDI) limit to 49 per cent from the present 26 per cent will not help the insuring public.
P.P.MOHANAN
General Secretary,
General Insurance Officers All India Association, Kerala
KOCHI
Ph: 09249796359
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