Union Budget 2021: Big News for Insurance Sector! Fm Sitharaman Raises Fdi Cap Rom 49% to 74 Pct

Union Budget 2021: In a bid to attract investment in the insurance sector and create a new avenue for revenue for the insurers operating in India, the Finance Minister Nirmala Sitharaman announced to raise the FDI in insurance sector from existing 49 per cent to 74 per cent. She said that the move has been taken after seriously scrutinizing the demand of the insurers for the same.

Announcing about the raise in FDI cap from her Union Budget 2021 Nirmala Sitharaman said, “To push investment in the insurance sector, we propose to increase the Foreign Direct Investment (FDI) limit in the insurance sector from 49 per cent to 74 per cent.”

Reference Link:-

https://www.zeebiz.com/india/news-union-budget-2021-big-news-for-insurance-sector-fm-sitharaman-raises-fdi-cap-rom-49-to-74-pct-148087