MUMBAI, 21 JANUARY, 2023 (GPN): Anup Rau, MD & CEO, Future Generali India Insurance Quoted:

 

“With the 2024 Lok Sabha elections on the horizon, the expectations from this budget are high. The strategy of focusing on infrastructure development, capital expenditure, and making India a manufacturing hub, will continue to spur growth and recovery. The Centre should continue on this path, while focusing on fiscal consolidation.

As far as the insurance sector is concerned, we look forward to major changes this year. The much-awaited proposal to increase FDI limit to 100% in insurance could be taken up during the Budget ’23, which would augur well for insurers who will get fresh capital. With the uptick in healthcare costs, there is a strong case for increasing deduction limits for health insurance in the coming budget”.