JOIN US'Budget 2020 will bring focus on life insurance sector'
By Kamlesh Rao,
“The Finance Minister has announced a balanced budget inspite of existing challenges in hand. It has focused on generation of employment and inclusive growth through increased expenditure on rural economy, infrastructure, MSME and healthcare. Abolition of DDT, tax relief to middle class and lower middle class segments along with simplification of the tax regime will improve public sentiment and augur well for the economy. While, listing of LIC is a good move which will bring focus on the life insurance sector, other expectations of sector could have been met better. The insurance industry will be watchful of the implication of the direct tax changes in the new tax regime.”
(The writer is MD & CEO, Aditya Birla Sun Life Insurance)