1)Look at the Sumptuous crores of Rs Govt will be able to secure on VARIOUS COUNTS mentioned in LIC CO F & A Circular
Let
alone NB Premium which itself, difference between old & new rates
will yield to Govt sizeable Revenue 3.75% to 4.5% ie 0.75% rise
Coming
to Renewal Premium, rate 1.875% to 2.250 % ie 0.375% rise,biggest in
Volumes & a Kamadhenu for LIC itself,the impact of Revenues to Govt
will be the LARGEST RISE & YIELD & will boost Govt Income in a
fabulous manner.
Single Premium of Annuity products 1.50% to 1.80% ie 0.30% will be a good gainer for Govt
There are also other miscellenaeous items on which also tax rise is there & will net a decent spurt in Govt income
I
request Sri RKSahni to work out the app Yield for Govt on these new GST
announcements ,taking into account latest LIC Statistics to get a fair
& correct idea in quantifiable terms & INCLUDE in our SLP to SC
It must also be stated that
Govt has listed some exemptions under GST too,like VPBYojana, PMs Vaya
Vanadan Yojana ,which is a good index
Not much incisive interpretation has come from LIC, Field Force Agents & Development Officers & critics & analysts
2)**Govt
wanted to eat the cake & have it too, when earlier it proposed to
increase LIC Valuation Surplus dividend to Govt to be raised from 5
--10% but ultimately wisdom prevailed & it resorted to status quo of
5 % only
*** Govt is stubborn
& against Financial & Service Sector, determined not to grant
Pension Upgradation, even after copious Notes, Submissions, Arguments
,Data,Logic ,moderate Outlay, Sterling & Superlative performance ,so
consitent for decades in all Ratios & Parameters,
knowing
full well,OTHERS subscribe to GOVT Pay Commissions bombastic
expenditure on DA to employees, DR to Pensioners, Allowances improved
& recently allowed with a fabulous expenditure, Pension rise as
impreoved OVER 7th PC recommendations with 2.57 % factor inbuilt
calculated pension amount
PLUS value-added pension addition after age 80,NOT ALLOWED to anyother sector,
***NOW
wanting to allow Final Pension option to left out employees , a
SIZEABLE OUTLAY,compared to outlay on Pension Upgradation, diluting
Actuarial assumptions ,as it pleases the LIC authority in tune with
objectives of respective so-called Exercises, but adamant &
perverted & obstinate exaggerations for Pension Expenses yearly etc ,
&
***Forgetting the
ALL-PURPOSE & DECISIVE Ratio on Expenses, all inclusive ,well
within Stipulated Ratios by IRDA & this critical determinant must
have been given due ultimate importance by DHC Bench, but DHC ignoring
the mighty & untarnished performance of the mighty Giant,
undeclared Navarathna who could comfortably comply with MOST RIGOROUS
SOLVENCY MARGIN of IRDA
***That is
the paradox created by DHC Judgement,ignoring many crucial factors ,of
law, of Constitution, of Fundamental Rights ,of real good quality
performance of LIC,receiving many accolades of praise & Awards
galore every year,of powerful case laws old,new, latest on PU as the
ONLY alternative to rectify & remedy grotesque Anamolies in
pension, 6/7 grades below getting more, DHC with minute analysis laying
stress on minuscule differences in DR but ultimately IGNORING
FUNDAMENTAL LEGAL PRINCIPLES of EQUITY,EQUALITY & RIGHT ,therefore
to END DISCRIMINATION IN TOTALITY & NOT PIECEMEAL,
***also
interpreting LIC Pension Rules, 1995 & various Provisions
stultifying the correct meaning & import thereof, to the detriment
of all pensioners,
even ignoring Hon Justice Dipak Misras 31 March 2016 orders to pay IR in accordance with Rule 3A ,
***LIC Chairmans unqualified Address & analysis of LIC golden performance in Diamond Jubilee Year for LIC 2016-17 &
his announcement of 40 % extra Bonus to policyholders & also similar rise in Surplus dividend to Govt as a Capstone ,
3)****What
more is required to reinstill reverse ,,impartial ,neutral derivations
to quell imperfect conclusions & errors of omission & commission
of DHC Bench &
,therefore,
to rightly earn SC gratitude & blessings on PU causing no damage to
LIC Prosperity & equally no harm to Policyholders interests on
bonus or any item of service, whatsoever, & so lift all groups of
pensioners from IV Pay Commission mode to near 7th PC ,as we cant reach the
moon of CG Pension, because Govt Family pension is higher than LIC
regular pension
Greetings,
RBKISHORE
VP,AIRIEF
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