<p><em><b>By Mahesh Balasubramanian,</b></em></p>.<p>The FM has delivered an unprecedented Budget in an unprecedented year. The entire focus seems to be on spurring growth and opening up various sectors of the economy to make India truly Atmanirbhar and at the same time provide enough incentives to attract private and foreign investments.</p>.<p>Increase in health care spends, new scheme for health care with outlay of Rs 64,000 crore over the next 6 years and Rs 35,000 crore set aside for vaccination program, investments in primary, secondary and tertiary health care and wellness centre will all go a long way in delivering better health care services to both urban and rural India.</p>.<p><a href="https://www.deccanherald.com/business/union-budget/budget-2021-live-fm-nirmala-sitharaman-modi-parliament-budget-speech-income-tax-slabs-budget-2021-announcements-coronavirus-privatisation-divestment-945745.html" target="_blank"><strong>Budget 2021 Live on DH</strong></a></p>.<p>Landmark announcements include disinvestments in many PSUs, 2 PSU Banks and 1 General Insurance company, setting up an ARC for managing the stress assets in the economy, vehicle scrapping policies, tax reforms, FDI In Insurance going up to 74%, FINTECH hub in Gift City, LIC IPO to be completed etc clearly show the intent of the Government in making India self-reliant and globally competitive.</p>.<p>The fact that no new taxes, surcharges etc have been levied means there is nothing in the Budget to hurt the sentiments of investors and taxpayers. For the Insurance industry, there are a lot of positives, Health care spends, Vehicle scrapping, spending on Capex should all help Industry go back to 15% growth as seen during the pre-covid times and increase insurance penetration and density.</p>.<p><em>(The author is Chief Executive Officer & Chief Marketing Officer at Kotak Mahindra General Insurance Company Ltd.)</em></p>
<p><em><b>By Mahesh Balasubramanian,</b></em></p>.<p>The FM has delivered an unprecedented Budget in an unprecedented year. The entire focus seems to be on spurring growth and opening up various sectors of the economy to make India truly Atmanirbhar and at the same time provide enough incentives to attract private and foreign investments.</p>.<p>Increase in health care spends, new scheme for health care with outlay of Rs 64,000 crore over the next 6 years and Rs 35,000 crore set aside for vaccination program, investments in primary, secondary and tertiary health care and wellness centre will all go a long way in delivering better health care services to both urban and rural India.</p>.<p><a href="https://www.deccanherald.com/business/union-budget/budget-2021-live-fm-nirmala-sitharaman-modi-parliament-budget-speech-income-tax-slabs-budget-2021-announcements-coronavirus-privatisation-divestment-945745.html" target="_blank"><strong>Budget 2021 Live on DH</strong></a></p>.<p>Landmark announcements include disinvestments in many PSUs, 2 PSU Banks and 1 General Insurance company, setting up an ARC for managing the stress assets in the economy, vehicle scrapping policies, tax reforms, FDI In Insurance going up to 74%, FINTECH hub in Gift City, LIC IPO to be completed etc clearly show the intent of the Government in making India self-reliant and globally competitive.</p>.<p>The fact that no new taxes, surcharges etc have been levied means there is nothing in the Budget to hurt the sentiments of investors and taxpayers. For the Insurance industry, there are a lot of positives, Health care spends, Vehicle scrapping, spending on Capex should all help Industry go back to 15% growth as seen during the pre-covid times and increase insurance penetration and density.</p>.<p><em>(The author is Chief Executive Officer & Chief Marketing Officer at Kotak Mahindra General Insurance Company Ltd.)</em></p>