Insurance sector Budget 2021
Currently, the insurance penetration in India is 3.7 percent of the gross domestic product (GDP) as against the world average which is 6.31 percent. The life insurance sector in India is growing at 11 percent to 12 percent. General insurance is growing at 18 percent per annum. For standalone health insurance, the average growth rate is 35 percent per annum. By cutting taxes in the Budget, the government can put more money in the hands of the middle class and workers. This will benefit the insurance sector as well, though indirectly with hope of greater penetration. The insurance sector experts are of the view that a rise in government spending in the healthcare sector can help huge protection gap to come down and make insurance affordable.
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Insurance Sector 2021 - Total results - 5
Feb 01, 2021
This is no 1991, but Sitharaman's budget should boost growth, create jobs and stimulate a COVID-hit economyThe best part of Union Budget 2021, however, is that Nirmala Sitharaman resisted the temptation to slap more cess, surcharges on the taxpaying citizens and refrained from imposing a ‘wealth tax’ to raise revenue.
Feb 01, 2021
Full text: FM Nirmala Sitharaman unveils Union Budget 2021; doubles healthcare spending, lifts caps on FDIFinance Minister Nirmala Sitharaman on Monday delivered her third Budget speech in the Parliament. Here's the full text of her speech in Lok Sabha
Jan 31, 2021
Union Budget 2021: Make insurance more affordable, attractive proposition for customersDue to COVID-19, the consumer mindset has undergone a tectonic shift from looking at health insurance as a priority to seeing it as a necessity, says ManipalCigna's Prasun Sikdar
Jan 30, 2021
Union Budget 2021: Liberalisation of FDI in insurance should be given top priorityThe ongoing pandemic has emphasised the importance of insurance as a form of financial protection for oneself and family, reiterating the unpredictability of life-altering events
Jan 18, 2021
Union Budget 2021: From going paperless to no briefcase, 5 differences in the way it will be presented this yearThe Union Budget will be presented against the backdrop of the economy in recession due to COVID-19