Insurance, pension sector reforms interlinked: Arun Jaitley
India's Finance Minister Arun Jaitley Tuesday expressed hope that the insurance bill would be passed by the end of this year, allowing 49 percent foreign equity in insurance and pension sectors.
Releasing the annual report of the Pension Fund Regulatory and Development Authority (PFRDA) here, Jaitley said the insurance amendment bill is linked with the pension sector.
As per the PFRDA Act, foreign equity in a pension fund cannot exceed 26 percent or such percentage as may be approved for an Indian insurance company under the provisions of the Insurance Act, which ever is higher.
The insurance bill has been referred to a select committee of the Rajya Sabha.
According to Jaitley, the increase in foreign equity limit would bring in more funds into the country and enable launch of new products.
He said that in a democracy, decision-making is a complex issue and hence reforms would happen but at a slow pace.
(Posted on 26-08-2014)
Information on States of India:
Andaman Nicobar | Andhra Pradesh | Assam | Bihar | Chandigarh | Chhattisgarh | Dadar Nagar Haveli | Daman Diu | Delhi | Goa | Gujarat | Haryana | Himachal Pradesh | Jammu Kashmir | Jharkhand | Karnataka | Kerala | Lakshadweep | Madhya Pradesh | Maharashtra | Manipur | Meghalaya | Mizoram | Nagaland | Orissa | Pondicherry | Punjab | Rajasthan | Sikkim | Tamil Nadu | Tripura | Uttar Pradesh | Uttaranchal | West Bengal
INDIA REGIONAL MAPS:
Andhra Pradesh Travel Map | Bihar Travel Map | Goa Travel Map | Gujarat Travel Map | Haryana Travel Map | Himachal Pradesh Map | Karnataka Travel Map | Kerala Travel Map | Maharashtra Travel Map | Punjab Travel Map | Rajasthan Travel Map | Sikkim Travel Map | Tamil Nadu Travel Map | Uttar Pradesh Travel Map | West Bengal Travel Map |
MORE MAPS OF INDIA:
INDIA CITY MAPS:
KERALA TRAVEL MAPS: