Budget 2013: What India Inc anticipates
Banking license, FDI in pension and insurance
The major announcement from banking sector may include more new licences, allowing tax free infrastructure bonds so as to bring more funds. Though new bank licence may be dicey for the banking sector owing to growing new players, infra bonds will boost the sector’s confidence.
Decision on FDI in insurance will also be eagerly watched by the industry. The 49 percent FDI in insurance, which has been on the backburner for quite some time now, remains to be passed by the government.
In the pension sector too, there is a demand to allow 49 percent FDI in line with the insurance sector. An announcement on the Pension Fund Regulatory and Development Authority (PFRDA) Bill is highly expected.
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