News: 'FDI hike in insurance'

(IM 30/01/2007) New Delhi - In order to sustain high growth in the insurance sector, the Finance Minister is seriously thinking over raising the Foreign Direct Investment (FDI) to 49%, which at present is capped at 26%. The government has to take this step in order to bring reforms in the insurance sector and boost up further growth.

Besides, the Pension Fund Regulatory and Development Authority Bill may also be in for some changes. It is only when the cat will be out of the bag on the Budget Day, would we come to know of the results and promises made by the government.