Budget proposes to hike FDI in insurance to 74% - The Hindu BusinessLine
Budget proposes to hike FDI in insurance to 74% February 01, 2021 Insurers welcome the move as insurance is a capital-intensive business Finance Minister Nirmala Sitharaman has proposed to enhance the foreign direct investment (FDI) limit in insurance to 74 per cent along with relevant safeguards. As part of the Union Budget 2021-22, she has proposed to amend the Insurance Act to increase the permissible FDI limit to 74 per cent in insurance companies and allow foreign ownership and control with safeguards. At present, FDI up to 49 per cent is permitted in insurance companies. “Under the ...
Source: thehindubusinessline.com