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FM’s speech managed to tread fine line between pro-reform and populism: Ajay Bimbhet

We also welcome the raised FDI limits to 49% in the insurance sector, which will enable us to capitalise on the immense under penetration of the sector in the country

July 11, 2014 1:24 IST | India Infoline News Service
The Union Budget by the new Government has hit most of the right notes as far as building the current state of Indian economy is concerned. The road to recovery will be steep and the proposals made in Hon. Finance Minister’s speech managed to tread the fine line between pro-reform and populism. We also welcome the raised FDI limits to 49% in the insurance sector, which will enable us to capitalise on the immense under penetration of the sector in the country. The general insurance is also expected to benefit from higher tax exemption limits introduced for individuals and the proposed initiatives to kickstart the capex infusion cycles in core sectors including infrastructure and capital goods. This is indeed a laudable initial step by the new government.

The author is MD, Royal Sundaram Alliance General Insurance

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