'Rousing investments key to revive faith in economy'

Union Budget 2020: Reviving consumption demand and investments key to restore confidence in economy

Creating a central repository of insurance policy data through PAN would be beneficial in taking insurance to the nooks and crannies of India where it is required the most. (Credit: iStockPhotos)

By Aditya Agarwal

All eyes are on the Union Budget 2020. Given the current status of the economy, reviving investments and consumption demand is key to restore the confidence of both the common man and market entities. This would help investments to flow in and provide a much needed boost to the economy.

It would be in the country’s best interest to focus on investment options for big budgets. We are hoping for the government to accord Cat 3 AIFs with a tax pass through status and simplify NRI participation in our financial market via Equity Mutual Funds, Debentures and other market linked instruments. The under penetration of the insurance industry is also an opportunity that can be leveraged. Creating a central repository of insurance policy data through PAN would be beneficial in taking insurance to the nooks and crannies of India where it is required the most. A reduction of GST on Health Insurance would also prove to be a positive enabler in this regard.

(Aditya Agarwal is the Co-Founder of Wealthy)