Insurance firms expect Interim Budget proposals to boost penetration

For the insurance industry, the schemes aimed at boosting farmers' income and reducing tax outgoes for the middle-class will encourage consumption, insurers said

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Press Trust of India Mumbai

Last Updated : Feb 01 2019 | 5:49 PM IST

The insurance industry expects the budget proposals to increase disposable income through hike in tax rebates, pensions, health cover for the masses and digital connectivity, help the sector grow faster.

"The interim budget aims to uplift the poor, both in cities as well as in villages," ICICI Lombard General Insurance's Bhargav Dasgupta said.

For the insurance industry, the schemes aimed at boosting farmers' income and reducing tax outgoes for the middle-class will encourage consumption, while the plan to develop 1 lakh digital villages will boost digital infrastructure, he added.

It can be noted that apart from providing income tax rebate of up to

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