Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship Dharmendra Pradhan on Monday said that LIC has contributed significantly in making India an economic superpower in the world.
He was speaking at the General Meeting of Life Insurance Agents Federation at Bhubaneswar on issues and concerns of over 11.5 lakh LIC agents across the country.
“LIC has played a pivotal role in strengthening the economy has contributed to the growth and economic development of the country with large-scale financial investments in the infrastructure and social sector,” he said.
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Over the next 25-30 years there will be varied trends of economic development as the new geopolitical order emerges. These uncertainties give rise to increased importance to LIC. In the coming years, the purchasing power of people is expected to rise. Further, with new employment opportunities, people are expected to spend more in Heath, Education and Insurance, added Pradhan.
The government has been constantly trying to bring more and more people under insurance cover, through its welfare schemes. Under the Pradhan Mantri Ayushman Bharat around 50 crore people are covered under the health assurance, said Pradhan.
Technology and digitalisation have brought changes in workforce in the country. We have a challenge to re-skill and up-skill the 48 crore workforce in the country as per the changing technology. Also, proposed the federation to take steps to re-skill and up-skill the present skill of LIC agents across the country, Pradhan.