archiveNirmala Sitharaman

Union Finance Minister Nirmala Sitharaman Saturday announced a significant hike in foreign direct investment (FDI) in the insurance sector — from 74% to 100% — paving the way for the entry of global insurance giants, substantial foreign investments and tough competition in the Indian market.The government will hopes this major reform boosts insurance penetration in the country, which, as per an IRDAI report, was at 3.7% in 2023-24. The global insurance penetration at the same time was 7%. With the 100% FDI, foreign insurers will have full autonomy to operate...

Budget 2025: The Indian stock market experienced high volatility on Saturday, February 1, following the FY26 Union Budget announcement by Finance Minister Nirmala Sitharaman. While the budget introduced major changes in income tax slabs, shifting more money into the hands of middle-class consumers, market sentiment remained mixed due to concerns over government capital expenditure (capex) allocation.A key takeaway from the budget was the increase in the income tax exemption limit to ₹12 lakh, a significant move aimed at boosting household consumption, savings, and investment. There had been widespread expectations that...