UPSC Exam > UPSC Questions > Consider the following statements.1. The LIC...
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Consider the following statements.
1. The LIC was also called as an investment and reinsurance institution by the government.
2. The LIC had been the biggest investor in the government's process of planned development purchasing government securities.
Which of these statements is/are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements.1. The LIC was also called as an in...
- The LIC was called an investment institution by the government. The nationalisation was motivated by twin objectives—first, to spread the message of life insurance for greater social security and secondly, to mobilise people’s savings (collected as premiums) for nation-building.
- The LIC had been the biggest investor in the government's process of planned development purchasing government securities and equities of the big asset public sector undertakings.
Community Answer
Consider the following statements.1. The LIC was also called as an in...
Explanation:
The correct answer is option 'B' - 2 Only.
Statement 1: The LIC was also called as an investment and reinsurance institution by the government.
This statement is incorrect. LIC, which stands for Life Insurance Corporation of India, is a state-owned insurance group and investment company. It is not referred to as an investment and reinsurance institution by the government. LIC primarily operates in the insurance sector and offers a wide range of insurance products to individuals and organizations.
Statement 2: The LIC had been the biggest investor in the government's process of planned development purchasing government securities.
This statement is correct. LIC has been one of the largest investors in the government's process of planned development by purchasing government securities. Government securities are debt instruments issued by the government to finance its expenditure. These securities provide a fixed income to the investor and are considered low-risk investments.
LIC invests a significant portion of its funds in government securities to ensure steady returns and contribute to the government's financing needs. By investing in government securities, LIC plays a crucial role in the government's planned development initiatives and supports the overall economic growth of the country.
Conclusion:
Based on the above explanation, it can be concluded that only statement 2 is correct. LIC has been a major investor in government securities but is not referred to as an investment and reinsurance institution by the government. Therefore, the correct answer is option 'B' - 2 Only.
The correct answer is option 'B' - 2 Only.
Statement 1: The LIC was also called as an investment and reinsurance institution by the government.
This statement is incorrect. LIC, which stands for Life Insurance Corporation of India, is a state-owned insurance group and investment company. It is not referred to as an investment and reinsurance institution by the government. LIC primarily operates in the insurance sector and offers a wide range of insurance products to individuals and organizations.
Statement 2: The LIC had been the biggest investor in the government's process of planned development purchasing government securities.
This statement is correct. LIC has been one of the largest investors in the government's process of planned development by purchasing government securities. Government securities are debt instruments issued by the government to finance its expenditure. These securities provide a fixed income to the investor and are considered low-risk investments.
LIC invests a significant portion of its funds in government securities to ensure steady returns and contribute to the government's financing needs. By investing in government securities, LIC plays a crucial role in the government's planned development initiatives and supports the overall economic growth of the country.
Conclusion:
Based on the above explanation, it can be concluded that only statement 2 is correct. LIC has been a major investor in government securities but is not referred to as an investment and reinsurance institution by the government. Therefore, the correct answer is option 'B' - 2 Only.
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Consider the following statements.1. The LIC was also called as an investment and reinsurance institution by the government.2. The LIC had been the biggest investor in the government's process of planned development purchasing government securities.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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