Insurance sector has contributed in the development of basic infrastructure, which has made possible in the provision of various facilities in the country. Industrial areas, transportation, electricity, store houses, farming, etc. have been developed through insurance. LIC, GIC and their assisting agencies have contributed largely in development of basic infrastructure. LIC alone has contributed ₹ 6,112 crore for electricity projects, 18,916 crore for housing projects and ₹ 1,736 crores for water supply projects and ₹ 343 crore for road projects till 31st March, 1999. Therefore, it is a clear that insurance sector has significantly contributed in the development of basic infrastructure.