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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