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Thursday, July 02, 2009

Hike foreign investment limit in insurance to 49%

From the present 26%

The Economic Survey for 2008-09 was presented by Finance Minister Pranab Mukherjee in Parliament today, 2 July 2009.

The FM's Economic Survey recommended increase in foreign investment limit in insurance to 49% from the current 26%. The Survey also prescribed a 100% foreign equity in insurance firms which sell products to rural residents and agriculture-related activities.

The Economic Survey, which is tabled by the Finance Minister before the presentation of the Budget, provides the government's assessment of the economy, outlines the problems facing the country and suggests measures for dealing with them.

The Union Budget for 2009-10 will be presented by the Finance Minister Pranab Mukherjee in the Parliament on Monday, 6 July 2009.

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