Union Budget 2025 Reactions | 'Strategic focus on strengthening healthcare and insurance through policy reforms a significant step,' says Amit Ganorkar, MD & CEO of Tata AIG General Insurance

'Exempting lifesaving drugs from basic custom duty and expanding cancer care will reduce the financial burden on patients,' 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, Amit Ganorkar, MD & CEO of Tata AIG General Insurance, said, "The government's strategic focus on strengthening healthcare and insurance through policy reforms is a significant step toward long-term sectoral growth. The increase in FDI limits will drive investment and enhance efficiency."

"Exempting lifesaving drugs from basic custom duty and expanding cancer care will reduce the financial burden on patients. Strengthening medical infrastructure through daycare cancer centres and increased medical education seats will create a more resilient and inclusive healthcare system."

"Additionally, the ‘Heal in India’ initiative will position the country as a global healthcare hub, fostering medical tourism and capacity building. A robust insurance ecosystem, aligned with these initiatives, will be instrumental in ensuring financial security and expanded healthcare access for all," Ganorkar added.

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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.