(a) whether the employees of the Life Insurance Corporation (LiC) and the General
Insurance have been demanding revision in their pay scales as a part of their fresh
agreement for the period 2000-2007;
(b) if so, the details of the demand put forward by the employees and whether any
negotiations have been held with the employees for an agreed settlement of their demands;and
(c) if so, the details of the agreement finalized in this regard?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANANDRAO VITHOBA ADSUL):
(a) to (c) Yes, Sir. Wage revision for the period 2002-2007 in the insurance industry is due
from August 2002. The demands have been submitted by the employees` unions to the managements
of Life Insurance Corporation of India and the General Insurance Companies. They have held
negotiations with the employees` unions and specific recommendations, once finalised, would
be forwarded to the Central Government for approval.