In the second strategic sale approval in over 12 years, the Cabinet cleared the sale of India's first pharma company Bengal Chemicals and Pharmaceuticals Ltd as well as Hindustan Antibiotics Ltd after selling their surplus land.
BCPL and HAL are among the public sector units that NITI Aayog identified for sale of government's majority stake to private companies in order to bring in greater efficiency and professionalism in their functioning.
General Insurance Sector Sees Growth
Despite demonetisation, the general insurance industry saw 29% growth with premium collection for the month of November. Health was the most robust portfolio, ahead of motor and commercial lines with standalone insurers seeing 40% increase.
The general insurance sector, however, did not witness the stellar growth witnessed by life for the month of November.