Govt-owned 5 insurance companies to be listed, govt share to be 75%: Jaitley

These companies are New India Assurance,United India Insurance, Oriental Insurance, National Insurance and General Insurance.

Govt-owned 5 insurance companies to be listed, govt share to be 75%: Jaitley

Addressing the media briefing after Cabinet meeting, Union Finance Minister Arun Jaitley informed that Cabinet Committee on Economic Affairs (CCEA) has cleared the listing of five government-owned insurance companies in stock exchanges. Additionally, the government's stake in these companies would be reduced to 75 per cent.

These companies are New India Assurance,United India Insurance, Oriental Insurance, National Insurance and General Insurance.






Along with Union Minister Ravi Shankar Prasad, Jaitley informed that the listing will open options for companies to raise resources from the capital market.



Jaitley also said that the credit guarantee trust’s assets will be increased to Rs 7,500 crores by government. Aside from this, the Cabinet has given approval for establishment of Indian Agricultural Research Institute (lARI) in Jharkhand with an outlay of Rs 200 crore and for the introduction of Repealing & Amending Bill, 2017 to repeal 105 Acts.



Speaking at the press conference, Prasad said, “Out of 1824 redundant laws till now 1175 have been repealed. Today, we’ve decided to repeal 105 more old laws.”






The cabinet has also given its approval for the amendment in Modified Special Incentive Package Scheme to further incentivise Electronic Sector.