Budget 2021-22: The Modi government proposed to increase foreign direct investment FDI limit in the insurance sector to 74 per cent in an attempt to attract the overseas players. Finance minister Nirmala Sitharaman said in her Budget speech.The FDI limit hike in insurance will allow foreign ownership and control with safeguards. Under the new structure, the majority of directors on the boards and key management persons will be resident Indians with atleast 50 percent directors as independent directors. A specified percentage of profit will be retained as general reserve,” said the finance minister Nirmala Sitharaman.Apart from this Central government would bring the LIC IPO in this financial year. How it’s affect people and policy user.
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