The Hindu : Andhra Pradesh / Vijayawada News : LIC staff oppose service tax move

Online edition of India's National Newspaper
Wednesday, Oct 06, 2004

Andhra Pradesh

Andhra Pradesh - Vijayawada

LIC staff oppose service tax move

By Our Staff Reporter

VIJAYAWADA, OCT. 5. The All-India LIC Employees' Federation has asked the Central Government to withdraw its proposal to collect service tax on life insurance premium.

The federation's third south central zonal council meeting in a resolution said the proposed tax was against all social and developmental objectives of the Life Insurance Corporation.

Proposal opposed

The federation also opposed the proposal of the Government permitting the increase of foreign direct investment from the present 26 per cent to 49 per cent. It also expressed concern over the failure of the LIC management in taking into confidence all stakeholders and discuss the matter with frankness. It demanded that the federation and others be called immediately for an urgent information sharing sessions to regain the lost ground.

Separate resolutions were made on the right to strike, bonus to all and regularisation of the services of temporary employees.

The council elected unanimously office-bearers on the concluding day of the conference. B. Gangaraju of Hyderabad was elected the zonal president. The other office-bearers were: P. Mahesh, Hyderabad (general secretary), B.G. Balaji, Mysore, C.L.N. Rao, Warangal, Mira Butt, Bangalore, and K. Bhanumurthi, Guntur, (vice-presidents), V. Raghunath (treasurer), G. Srinivas (executive member).

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