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ESIC may be allowed to invest 15% in MFs, stocks

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According to the official, higher annual returns on investments will help ESIC further improve healthcare services, after rampant complaints of below-average services in state-run ESIC hospitals.

Synopsis

The ESIC corpus currently stands at over ₹90,000 crore. Of this, over ₹23,000 crore is earmarked as reserve fund, while the rest is invested in government securities (45-65%), debt and related instruments (20-45%), and short-term debts including fixed deposits (5-10%) based on the traditional investment pattern of ESIC.

New Delhi: The government is eyeing changes to the investment pattern of the Employee State Insurance Corporation (ESIC) to allow it to invest up to 15% of its corpus in equities and mutual funds, bringing it on a par with the formula followed by the Employees’ Provident Fund Organisation.The move is aimed at ensuring that the growing ESIC corpus fetches higher returns, as the government opens up the scheme to gig workers and expands its

BY

ET Bureau

4 mins read, Last Updated:

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