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| LIC employees stage protest, to observe strike on Jan 8 | | |  Early Times Report
Jammu, Jan 2: LIC employees under the banner of Northern Zone Insurance Employees’ Association today staged a protest demonstration in front of their office.
The protest was organized in preparation of one day nationwide strike on 8th January 2020 against the anti-worker, anti-people policies of the NDA govt and force the reversal of anti-worker policies of the Central Govt. as per the call given by the National Open Mass Convention of Workers called jointly by 10 Central Trade Unions along with the Independent Federations and Associations of employees in Insurance, Banks, Defense Production, State Government and Central Government establishments etc. held on 30th September 2019 at New Delhi. Associations of farmers, students and youth have extended their solidarity and support to this Strike.
Speaking on the occasion, Com. Pawan Gupta strongly demanded scrapping of defined contribution pension scheme which has snatched the social security for the retired employees and placed the demand for pension updation and increase in the rate of family pension and expanding the defined benefit scheme of pension to all the employees.
Recruitment in Class 4 cadre in LIC is another demand of the Association. He strongly criticised the Govt.’s move to list LIC in stock exchange and to hike FDI limit in insurance sector to 74%. This Strike is aimed at saving the economy and the people from the ruinous policies of the central government.
The economy is in a severe crisis. Nominal GDP Growth is at a 15-year low. Unemployment is at a 45-year high. Household consumption is at a four-decade low. Retail inflation is at a 40-month high of 5.5%, mainly because of a sharp increase in food prices. Investments have dried up in spite of the fact that the benchmark interest rates have been cut five times so far this year. The government is pathetically clueless. While all the economic indices point to an acute lack of purchasing power in the hands of the working people, the government has been doling out largesse to the corporates. The government has been bringing about legislations in favour of the employers and depriving the workers of whatever little protection they enjoyed under the existing laws.
Privatisation of Public Sector has become the cornerstone of the government’s economic policies. Faced with a massive shortfall in revenue and capital receipts, the government has
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