Budget 2019 reaction: Insurers hail Nirmala Sitharaman's proposal for 100 pct FDI in Insurance intermediaries

Budget 2019 reaction: Nirmala Sitharaman's proposal for 100 per cent FDI in insurance intermediaries has gone down well among the insurance companies. They say it would help them generate extra growth as liquidity crisis will get eased after the proposal. The industry insiders are of the opinion that FM Nirmala Sitaraman under the Modi 2.0 Government has reaffirmed the aim set by the economic survey yesterday by stress on an Investment lead growth in GDP, jobs, exports and demand.

Vivek Jalan, Co-Founder, Tax Connect Advisory Services said, "The First Budget by the new FM Nirmala Sitharaman under the Modi 2.0 Government has reaffirmed the aim set by the economic survey yesterday by stress on an Investment lead growth in GDP, jobs, exports and demand. In fact this budget has something for all industries including a mega roadmap to boost transportation, focus on engineering industry, Real Estate, IT, Electrical industry,  rural industry and SMEs. A great boost to FDI is expected with 100 per cent FDI in Insurance intermediaries."

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Standing in sync with Vivek Jalan's views Ankur Choudhary, CO-Founder and CIO at Goalwise said, "100 per cent FDI has been allowed in insurance intermediaries and several sectors like aviation and media will be further opened for FDI investment." He said that the new budget by the Modi Govt was mainly focused on boosting infrastructure and foreign investments. To that effect, the government has made plans to spend 100 lakh crores for infrastructure over the next 5 years.