archiveunion budget 2025

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...

A quiet yet transformative shift is underway in India’s financial ecosystem. The International Financial Services Centre (IFSC), once a niche jurisdiction catering exclusively to cross-border financial services, is now at the heart of policy reforms designed to attract global investors. The latest development comes with the Finance Bill 2025, which introduces key tax exemptions poised to reshape investment dynamics within the IFSC framework. The IFSC, defined under Section 2(q) of the Special Economic Zone Act, 2005, is a jurisdiction that facilitates financial services to both non-residents and residents, provided the...