Budget augurs well for insurance, says IndiaFirst's Vishakha

The various measures proposed by Finance Minister Arun Jaitley can contribute to increased disposable incomes and savings at large, said IndiaFirst Life Insurance MD and CEO R M Vishakha.

"This will augur well for the insurance industry as this savings can be tapped by insurers," she said.

For instance, the increase in rent rebates under Section 80GG will result in increased disposable income which could be channelized towards improved savings, she explained.

Pointing out that the budget proposed listing of general insurance companies for the first time, she said "It will be interesting to see the impact that listing of the company would have on operational efficiencies and results."

Ms Vishakha hailed the government's commitment to MNAREGA. "We believe that the allocation of INR 38,500 crore MNREGA will continue to support the upliftment of the rural population."

She also hailed the extra push to investments in infrastructure, with an allocation of Rs 2.19 lakh crores for rail and road networks, and expressed the hope that it could contribute to increased purchasing power and disposable incomes among all those connected with it.

Source : Equity Bulls

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