Union Budget 2025 Reactions | 'Decision to raise FDI in insurance to 100% will drive greater capital infusion,' says Prashant Tripathy, MD & CEO of Axis Max Life Insurance

'We welcome this progressive reform, which aligns with our commitment to delivering greater financial security to Indians,' he said.

Finance Minister Nirmala Sitharaman tabled the much anticipated Union Budget for FY 2025-26 on February 1, which also marked a record 8th Budget presentation for the 65-year-old. In a major relief to the middle class, Sitharaman announced that there would not be any tax liability on income upto Rs 12 lakh for salaried persons under the new tax regime and raised the basic exemption from Rs 2.5 lakh to Rs 4 lakh.

Speaking on this front, Prashant Tripathy, MD & CEO of Axis Max Life Insurance, said, "Contributing to India's goal of achieving ‘Insurance for All by 2047,’ the decision to raise FDI in insurance to 100 per cent will drive greater capital infusion into the sector. This move will not only deepen investments but also foster innovation, enhance competition, and accelerate insurance penetration."

"We welcome this progressive reform, which aligns with our commitment to delivering greater financial security to Indians. With strengthened investment, the industry can further drive digital transformation, develop customer-centric solutions, and expand its reach to those who need it most,"

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Union Budget 2025 | Nirmala Sitharaman, as Finance Minister, presented her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', the Modi govt gave income tax relief for those making up to Rs 12 lakh per year in salaried income. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.