Budget 2013 has many implications for general insurance sector: G Srinivasan, The New India Assurance CO

The Budget has many positive implications for the General Insurance Sector. Banks being allowed at act as Insurance Brokers will increase insurance penetration as the large number of Bank Branches could be leveraged to distribute Insurance Products in a more effective manner, said the CMD of The New India Assurance CO. Read more

Budget 2013: OPPI wants increase in deduction with respect to health insurance premium

Organisation of Pharmaceutical Producers of India (OPPI) in its budget 2013 wish-list has asked the government to government to increase the deduction to an individual or HUF under Section 80D with respect to health insurance premium paid. Read more

Budget 2013: Need to make insurance more affordable for common man, says Ajay Bimbhet, Royal Sundaram Alliance Insurance Company

Non-life insurance segment has a very high potential to grow. However, in the absence of incentives, individual prefer saving instruments. Therefore, there needs to be a concerted effort to make insurance all the more affordable and attractive for the common man, says Ajay Bimbhet, Managing Director, Royal Sundaram Alliance Insurance Company Ltd, in his pre-Budget expectations. Read more

Budget 2013: Tea sector seeks crop insurance and fertiliser subsidy

Coverage under Agriculture Crop Insurance schemes and subsidized fertilizers for tea sector, the two major demands of small tea growers in India are gaining momentum. The national apex body of small tea growers has made an appeal to the union Finance Minister P Chidambaram to incorporate the tea sector under these schemes in his next budget proposal. Read more

Budget 2013: Chidambaram plans to introduce insurance, pension bills in Budget session

Finance Minister P Chidambaram plans to introduce the insurance and pension bills in the Budget session of Parliament as he is optimistic of securing the opposition’s support on the contentious legislations, Bank of America Merrill Lynch said after an investor interaction it hosted with Chidambaram in Singapore. Read more