Question

What is the role of LIC in national building activity

Answer 1

LIC , known as Life Insurance Corporation plays an  important role in the building of our nation by the following ways:

It collects the savings of the people and mobilises the huge savings.

It channelizes the funds by keeping money for the development of the economy or by way of investment in government as well as social sector.

Answer 2

Solution:

In the course of national development, LIC plays a significant role.

It mobilises the huge savings of the consumers and channelize the same for the purpose of national development.

This is particularly done while investing the amounts in the government accounts which is further used for the purpose of development.