Budget 2021 With Anil Singhvi: Increase in FDI limit in insurance sector a welcome move, says ICAN Chairman

Budget 2021: The Finance Minister Nirmala Sitharaman’s announcement to increase the Foreign Direct Investment (FDI) limit for the insurance sector is a welcome move. Zee Business Managing Editor Anil Singhvi spoke to ICAN Investment Chairman Anil Singhvi to get his reactions on this. 

Chairman Singhvi said that the budget did not have many surprises. He said that the increase in limit to 74 per cent is a “bold” move. It is a positive step and should be seen in the right direction. 

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The proliferation of fiscal deficit was quite visible as the revenue was low and the expenditure was increasing. Despite this, the government has not cut down its expenditure, and this is a good news, he further said. 

He said that the economy is looking in good shape and the IMF has already indicated that there will be a good growth during 2021-22 and 2022-23.  

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इंश्योरेंस सेक्टर के लिए FDI की सीमा बढ़ाना सरकार का अच्छा कदम, बाजार के लिहाज से भी बजट अच्छा है: अनिल सिंघवी, चेयरमैन, ICAN इन्वेस्टमेंट#BudgetOnZee #ZeeBusiness #Budget2021 @AnilSinghvi_ pic.twitter.com/d3AlVZsfsO

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The government has focused on the growth of economy which will lead to higher growth in revenues and taxes, he opined. 

He said that this is a calculated risk and is quite good. 

He said that this is a bold budget and not a conservative one.  

He said that there has been a fear psychosis in the markets as it feared negative things and have corrected over the last many trading sessions. The markets are getting over this negativity. 

He said that India will be a destination for investment, going forward.