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Budget WishList of Mr Shrirang Samant, CEO,
HDFC Chubb General Insurance
What is your Wish list from Budget 2005-06 for
the insurance sector?
- I hope the FDI limit in insurance is raised to 49%
- There's some rationalisation on the service tax which
is quite high.
- Some health insurance products do not enjoy tax benefits.
I hope the FM brings tax deductibility for all health
insurance products.
What are your overall hopes from the Budget for
the economy?
Overall, I look forward to continued liberalisation of
the economy at a faster pace, a wider and deeper stock market.
I hope that the Insurance Act is amended and the minimum
capitalisation required is brought down for health insurance
companies to set up shop.
And I hope the FM does the best that is possible taking
into account the political compulsions.
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