Lic policy 5 year plan

Share to Twitter Share to Linkedin It’s a popular narrative on the Left at the moment to say that members of the Right have an unhealthy disdain for “experts.” Washington Post columnist Catherine Rampell is a notable critic on the matter, but the view here is that her criticism misses the mark. Reasonable members of the Right don’t loathe experts as much as they dislike central control. Reducing all of this to the absurd, let’s imagine for fun that the smartest individual in the United States is none other than our President, Joe Biden. In a nation populated by geniuses, Biden sitting at the top in terms of intelligence wouldn’t alter a simple truth frequently ignored by the expert reverent: there’s arguably not a fraction yet conceived that could properly convey how small Biden’s knowledge would be relative to the collective knowledge of the American people. All of which hopefully explains why markets always and everywhere beat central planning. It’s … [Read more...] about Central Planning Fails Just As Much When Conservatives Are the Planners

Share to Twitter Share to Linkedin August 3 marks the anniversary of the genocidal attack carried out by Daesh in Sinjar, Iraq. On that day, Daesh unleashed prohibited acts against the Yazidis, an ethno-religious minority group in Iraq. Daesh fighters killed hundreds, if not thousands of men. As part of the same campaign, Daesh fighters abducted boys to turn them into child soldiers and women and girls for sex slavery. More than 2,700 women and children are still missing and their fate is unknown. A few days after the attack on Sinjar, Daesh also attacked the Ninevah Plains and forced over 120,000 people to flee for their lives in the middle of the night. The atrocities perpetrated by Daesh are being classified as genocide. Daesh committed murder, enslavement, deportation and forcible transfer of population, imprisonment, torture, abduction of women and children, exploitation, abuse, rape, sexual violence and forced marriage. Governments, parliaments and … [Read more...] about Eight Years Later, The World is Yet To Address The Daesh Atrocities And Assist The Yazidis

India's largest life insurance company, Life Insurance Corporation (LIC) reported a net profit of Rs 682.9 crore for the quarter ended June (Q1FY23), a sharp rise from a mere Rs 2.6 crore in the corresponding period last year. But on a sequential basis, the net profit was down from Rs 2,371.5 crore logged in the March quarter. In a call with the press post the release of its earnings, the insurer said that going forward, the volatility in its profit would be low. More importantly, LIC's profitability metrics too showed a hit for the June quarter on a sequential basis. Its value of new business dropped by more than 80 percent sequentially to Rs 1861 crore from Rs 9920 crore in the March quarter. The VNB margin slipped to 13.6 percent for the June quarter from 15.1 percent in the March quarter. Chairman M R Kumar said that the life insurer is focusing on increasing the share of non-participatory policies in its product mix that this should aid margins in the coming quarters. … [Read more...] about LIC Q1 Result | Net profit comes in at Rs 683 crore, firm sees rise in market share

Life Insurance Corporation (LIC) of India said its Indian embedded value (IEV) has been pegged at Rs 5.41 lakh crore, as of March 2022. "As on March 31, 2022, the IEV of LIC of India has been determined to be Rs 5,41,492 crore as compared to Rs 95,605 crore as on March 31, 2021 and Rs 5,39,686 crore on September 30, 2021," the state-run insurer said in a press release attached with a regulatory filing. The IEV as of September 30, 2021 was significantly higher than the IEV of March 31, 2021 due to the bifurcation of fund that was carried out by LIC pursuant to changes in the LIC Act during financial year 2021-22, it added. The value of new business (VNB) for year ended March 31, 2022 has been determined as Rs 7,619 crore, as compared to Rs 4,167 crore in the year-ago period, LIC noted. The VNB for the six-month period ended September 30, 2021 was Rs 1,583 crore, it further said. Close Also Read | LIC’s IPO anchor investors haven't given up on insurer despite … [Read more...] about LIC estimates its embedded value at Rs 5.41 lakh crore as of March 2022

Reserve Bank of India (RBI) Governor Shaktikanta Das (Image source: PTI/File) On August 5, the Reserve Bank of India (RBI)’s monetary policy committee (MPC) unanimously raised the policy repo rate by 50 bps to 5.4 percent, taking it back to its pre-pandemic level. The rationale cited for this action was uncomfortably high CPI inflation (and its level above the upper threshold limit of the target), and rising threat of imported inflation due to increased volatility in global financial markets. While majority of the economists and market participants were expecting the MPC to raise the repo rate in the August meeting, there was a debate on the actual magnitude of increase. People who expected a relatively modest increase of 25 to 30 bps in the repo rate felt that today’s inflation was caused more by geopolitical tensions and supply chain disruptions rather than sustained demand-pull pressures. Also, the MPC does not appear to be overly confident about the growth outlook. While … [Read more...] about Monetary Policy | Is 50 the new 25?

Share to Twitter Share to Linkedin Last week on July 27, Senator Manchin (D-WV) and Senator Schumer (D-NY) announced the Inflation Reduction Act (IRA) which provides $369 billion for climate and energy projects, including a tax credit up to $7,500 for electric vehicles (EVs). The IRA was a surprise to many. After all, on December 19 , 2021, Manchin had withdrawn support for IRA’s previous incarnation, Build Back Better (BBB) Act, citing concerns about inflation. On July 14, 2022, he went further, announcing an end to negotiations on even a slimmed-down BBB. Manchin has been critical of EV subsidies, an important climate priority in both the BBB and the IRA. On April 27 , 2022 he said: “There’s a waiting list for E.V.s right now with a fuel price at $4, but they still want us to throw $5,000 or $7,000 or a $12,000 credit to buy an electric vehicle…It makes no sense to me whatsoever…..It’s absolutely ludicrous.” On July 27, 2022, the day IRA was … [Read more...] about Three Reasons Why Manchin Did A U-Turn On Climate Policy

RBI Governor Shaktikanta Das. (File photo) The Reserve Bank of India (RBI) on August 5 retained its retail inflation forecast for the current financial year at 6.7 percent. In its earlier policy review in June, the central bank had forecast Consumer Price Index (CPI) inflation would average 6.7 percent in 2022-23. In its monetary policy decision today, the central bank increased the policy repo interest rate - the rate at which it lends short-term money to banks - by 50 basis points to 5.4 percent. "Headline inflation has recently flattened and the supply outlook is improving, helped by some easing of global supply constraints. The MPC, however, noted that inflation is projected to remain above the upper tolerance level of 6 percent through the first three quarters of 2022-23, entailing the risk of destabilising inflation expectations and triggering second round effects," the committee noted in its statement. While inflation declined marginally in June to 7.01 percent … [Read more...] about Monetary policy: RBI retains retail inflation forecast at 6.7% for FY23

President Tsai Ing-wen visits a combat support ship during her trip at a navy base in Kaohsiung on March 21, 2017. Tyrone Siu / Reuters – BEIJING – China on Friday strongly protested a U.S. plan to sell $1.4 billion worth of arms to Taiwan and demanded that the deal be canceled. Chinese foreign ministry spokesman Lu Kang said the sale would severely damage China’s sovereignty and security interests and run counter to Washington’s commitment to a “one-China” policy. He asked the U.S. to immediately stop the sale to avoid harming relations with Beijing. “We stress that nobody could sway our determination to uphold our territorial integrity and sovereignty,” Lu said at a regular daily briefing. “We oppose any external interference in our internal affairs.” The U.S. State Department approved the arms sale on Thursday, the first such deal with Taiwan since President Donald Trump took office. The sale was broadly welcomed on Taiwan as a show of U.S. support, … [Read more...] about Beijing Protested U.S. Plan to Sell $1.4 Billion Worth of Arms to Taiwan

RBI Governor Shaktikanta Das. (File photo) The Reserve Bank of India (RBI)’s monetary policy committee raised the repo rate by 50 bps to 5.4 percent on August 5, largely in line with the market expectations. This is the third consecutive rate hike by the RBI taking it to a total of 140 bps in the repo rate. However, when seen in conjunction with the floor of the policy rate (SDF rate) and liquidity moves, the total effective increase stands at ~180 bps in just about a quarter. The MPC also retained the policy stance at ‘Withdrawal of Accommodation’ to emphasise inflation control, and impart flexibility to the policy given global uncertainties. Even though the rate hike was unanimous, MPC member Prof. Jayanth Varma expressed reservations about the policy stance. While the RBI sounded hawkish in its intent to tame inflationary pressures, it is heartening to see the confidence the bank reposed in the growth recovery by keeping the growth projections unchanged at 7.2 percent for … [Read more...] about Monetary Policy | RBI’s move to ensure a safe and soft landing

Share to Twitter Share to Linkedin Topline The Chinese government has updated its official policy on Taiwan to remove an earlier commitment to allow the island to operate autonomously with its own government and systems in the event China took control, signaling Beijing’s unwillingness to offer any concessions as it continues to fume over House Speaker Nancy Pelosi’s visit to Taiwan last week. Key Facts China revealed an updated policy document on Taiwan on Wednesday which removes the promise that it “will not send troops or administrative personnel to be based in Taiwan,” after achieving “reunification” with the island. According to Reuters, previous versions of the document published in 1993 and 2000 included this line which indicated that Taiwan—which has a democratically elected government—would be able to retain its systems. The earlier proposal was similar to the system—known as “one country, two systems”— that was implemented in … [Read more...] about Beijing Updates Taiwan Policy Rescinding Earlier Promise To Not Send Troops To Island