For LIC, which is also the largest domestic institutional investor in the country, the income was earned through investment in government bonds and state development loans, interest, corporate bond interest, dividend income and profits on sale of equity.
The market value of LIC’s total investment grew 17.08 per cent at the end of FY17 at Rs 24,69,589 crore (provisional) from Rs 21,09,253 crore a year ago.
“During the year (2016-17), LIC invested Rs 2.6 trillion in Central and State government securities with an average annualised yield of 7.65 per cent during the year,” LIC sources told PTI.
While an investment of Rs 41,751 crore was made by LIC in equities, it realised a profit of Rs 19,302 crore by sale of equity during the past year. An investment of Rs 27,350 crore was made in corporate bonds.
The government has announced its borrowing programme of (Read More)