July 27, 2024 11:02 (IST)
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Union Budget: FDI limit in insurance sector increased from 49 pct to 74 pct

Union Budget: FDI limit in insurance sector increased from 49 pct to 74 pct

New Delhi: While presenting the Union Budget 2021-22 in Parliament today the Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman announced that the Government will amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to 74% and allow foreign ownership and control with safeguards.