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Non Life Insurance - Mr Shrirang Samant, CEO, HDFC Chubb General Insurance speaks up on what he expects from Budget 2005-06

07 Feb 2005

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What is your Wish List from Budget 2005-06 for the insurance sector?

I hope the FDI limit in insurance is raised to 49%

There's some rationalisation on the service tax which is quite high.

Some health insurance products do not enjoy tax benefits. I hope the FM brings tax deductibility for all health insurance products.

Overall, what are your hopes from the Budget for the economy?

Overall, I look forward to continued liberalisation of the economy at a faster pace, a wider and deeper stock market. I hope that the Insurance Act is amended and the minimum capitalisation required is brought down for health insurance companies to set up shop.

And I hope the FM does the best that is possible taking into account the political compulsions.

Courtesy: www.Insuremagic.com

Source: Insuremagic.com BACK