Budget a mixed bag for insurance industry

The insurance sector, while reacting to the Budget announcements made last week by finance minister Pranab Mukherjee, iterated its demand of increasing the FDI limit and asked for a major initiative to promote long-term savings through a separate format. The industry players, however, welcomed some of the FM s moves, including income tax relief, setting up of apex-level financial stability council, legislative reform paneland pan-India annual check ups. Future Generali India Life Insurance Co CEO & MD Deepak Sood said, The FM has addressed the two most crucial issues of economic growth & fiscal consolidation. With the relief in income tax ...

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