8. PEOPLES MONEY FOR PEOPLE’S WELFARE The life insurance corporation of India has been a nation-builder since it’s formation in 1926.true to the objectives of nationalization; the LIC has mobilized the funds invested by the people in life insurance for the benefit of the community at large. The corporation has deployed the funds to the best advantage of the policy holders as well as the community as a whole, true to the spirit of nationalization. National priorities and obligation of reasonable returns to the policy holders are the main criteria of our investments. The total funds ,so invested for the benefit of the community at large accumulated to Rs.6,13,266.58 crore as on31 st March,2007. The investment of the corporation’s fund is governed by Section 27A of the insurance Act,1938,subsequent guidelines/instructions issued there under by the Government of India from time to time, and the IRDA by way of regulations. as per the prescribed investment pattern approved by IRDA, the collected funds are invested as follows:- INVESTMENTS IN GOVT. & SOCIAL SECTOR (Rs. In Crore) 410529 358401 304002 TOTAL 4398 3954 4272 e) OTHERS 1516 725 826 d) ROAD,RAILWAYS,PORT & BRIDGES 7500 8288 8807 c) IRRIGATION WATER SUPPLY & SEWAGE 37881 29740 22439 b) POWER 22451 19807 16570 a) HOUSING INFRASTRUCTURE AND SOCIAL SECTOR INVESTMENT 642858 58928 51303 STATE GOVT. & GOVT. GUARANTEED MARKETABLE SECURITIES 272498 236959 199785 CENTRAL GOVT. SECURITIES 31.03.07 31.03.06 31.03.05 As on Type of investment
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