Hindu Mahasabha celebrates Gandhiji's death anniversary

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

Mysuru, Feb 29: More than 7,000 industrialists and entrepreneurs have left the country due to a deficit of trust, and incidents like the violence that rocked northeast Delhi will only affect the economy further, Sri Sri Ravi Shankar, founder of Art of Living Foundation, said on Friday.

Sri Sri was speaking at a corporate wellness conference on the theme, 'Wellness and Wellbeing for a Progressive Nation', hosted by CII in Mysuru. He said an atmosphere of fear and mistrust pervades the country and does not augur well for the economy.

"Bankers, too, are suspicious of everyone and not extending loans to industrialists. This has posed lots of problems," he said. "This attitude among bank officials should go as life depends on trust. When there is a deficiency of trust, there is a possibility of the economy slowing down," Sri Sri added

He said society is now facing two important issues - aggression and depression. "Some people stage protests and pelt stones which happened recently in Delhi. This is really unfortunate," he said, adding, "Fear lurks in the nation's capital, which is being used by many to create terror. This will affect the economy. No country will prosper without peace."

Wellness is the need of the hour, he said, adding, "Corporates used to spend half their health to gain wealth and spend half their wealth to regain their health. This isn't good economics. We have to talk and convince people to invest in wellness."

Bengaluru, Apr 5: Chief Minister BS Yediyurappa on Saturday said the state government will double down for 100% compliance to the lockdown in the next 10 days, warning action against those found roaming the streets.

Dismissing reports of a shortage of ventilators, he said the state was bringing in reinforcements over the next few days and expressed relief that none of the Covid-19 patients of the state has required a ventilator so far.

"None of the Covid-19 patients are on ventilators; two of them require oxygen," Yediyurappa told reporters after he met ministers and MLAs of Bengaluru and apprised them of steps taken to fight the coronavirus pandemic.

The CM said the government had placed orders for 1,570 ventilators, of which 17 have been supplied and another 20 would arrive by next week. The government has also ordered 18.3 lakh N-95 masks, of which more than 4 lakh have been supplied. To ensure a steady supply of hand sanitiser, manufacturing licences have been issued to 36 pharma companies and 29 distilleries.

While the state readies the medical infrastructure, the CM urged the legislators, cutting across party lines, to ensure full compliance to the lockdown. "If people fail to cooperate with the government and respect the nationwide lockdown, there will be no option but to enforce it in a more stringent manner from Sunday," he said.

As people continue to crowd markets amid growing fears of a shortage of essentials, the CM reiterated that all measures have been put in place to get the supply chain moving. 

He also assured that food will be provided to migrant workers and the poor. "There is enough stock of foodgrains and medicine in the state. The government has set a taskforce of ministers, 17 committees under additional chief secretaries, several helplines and a war room to fight the pandemic and they are all working round the clock," he said. 

The government has also issued direction to authorities to provide rations to those who do not have BPL or APL cards. Since many people from other states have settled in Bengaluru and they don't have ration cards, we have taken this decision," Yediyurappa said.

On reports of many private hospitals being closed and refusing to treat patients, the CM said: "We have already warned private hospitals to remain open and provide treatment to patients failing which strict action will be initiated."

Kisan Nidhi, 2 months' pension by April 10
The CM said an installment of Rs 2,000 under PM Kisan Samman Nidhi Yojana and two months' pension under the various social security schemes will be credited to bank accounts of beneficiaries by April 10. 

The process of crediting subsidy to 15 lakh beneficiaries under Ujjwala Yojana is on, he said.