Post-Budget quote from CEO & co-founder of PolicyBazaar.com Yashish Dahiya:
The proposal to increase the FDI limit in Insurance from 26% to 49% is a welcome reform. An increase in FDI cap would help boost the confidence of the industry and bring in capital to provide a much needed step forward for the industry to move to the next level in terms of technology and infrastructure. Also from a consumer perspective, better expertise and product innovation will now be available to consumers.
The increase in limit under 80c to 1.5 lakh will also incentivize customers to invest more in instruments like Insurance, ELSS, tax saving bonds etc. and would be helpful for these industries.
Also, we hope the uniform KYC across the financial sector would help in simplifying the processes from a customer perspective and will help the digital sales medium.
We are also happy to see the inclusion of allowing FDI through the automatic route in ecommerce. This will be definitely helpful in the growth of this sector and fast track India’s evolution to a strong digital economy.