Life Insurance Corporation (LIC) of India has got 5.6 per cent shares  in 42 PSUs as on the end of this financial year 2011-12. This will come to about  Rs 68,000 crore value at current prices. It recently purchased shares of ONGC worth Rs.15,000 crore.

The government is using the LIC to purchase the shares of other PSUs and get the money in to its coffers. This is not a healthy practice at all. LIC is being used as a milching cow. But on the other side, it is trying to bring Insurance Bill in the Parliament which will be  a great setback to the Insurance PSU and will help only the MNCs and big business.