Insurance, pension bills on agenda for budget session
The government proposes to push through key economic reform Bills in areas such as insurance, pension and corporate law in the Budget Session of Parliament beginning recently. Read more
P Chidambaram
Tax concessions for life insurance sector likely in budget
Life insurance policyholders can look forward to more tax concessions as finance ministry is considering a proposal to do away with service tax on first premium and create separate exemption limit for pension schemes in the upcoming budget. Read more
Insurance likely to get further sops in Budget
Buying insurance policies could become more attractive from next fiscal, with the government poring over various options to boost the sector, which has been trailing other financial services like banking. Read more
Focus on higher commissions adds to insurance mis-selling
The concern expressed by Finance Minister P Chidambaram earlier this week on the issue of mis-selling in the insurance industry has brought the issue of malpractices while selling policies to the forefront. Read more
Tax breaks likely on home, accident cover
Soon you may be able to get tax deduction on buying an insurance plan for your home or a personal accident cover. The finance ministry is considering a proposal to give additional tax benefits for purchasing these general insurance policies. Read more
Keep insurance products simple, avoid mis-selling: Chidambaram
The insurance industry can make rapid strides in India if insurers sell only simple products and avoid mis-selling, Finance Minister, P. Chidambaram said after unveiling a new brand — ‘PNB MetLife’ — in the Capital. 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
IRDA chief race opens up anew?
The race for the post of the chairman of Insurance Regulatory Development Authority (IRDA) may not be a done deal yet. The Central Vigilance Commission (CVC), it seems, is frowning at the proposal to appoint T S Vijayan, former chairman of the Life Insurance Corporation of India (LIC), according to sources familiar with the development.
Government lines up tax breaks for insurance
There could be a big cheer for India’s insurers in the national budget as the government plans to reduce service tax on premiums, protect existing policies from future tax changes, and relax rules on tax deducted at source to encourage households into buying more insurance cover. Read more
RBI’s 2012 policy rates: What makes Subbarao click?
The government and investors set the agenda for the executive in normal times. But the year 2012 will go down in Indian financial history as the executive setting it for the government and convincing investors that it is right and not them. It was an extraordinary year for the Indian economy with investments plunging, profitability falling, and the much-cherished growth rate falling to a near decade low. Read more