Finance Minister Nirmala Sitharaman announced that now up to 74% of FDI will be available in the insurance sector. Earlier, only 49 percent was allowed here. In addition, a charter has been announced for investors. Finance Minister Nirmala Sitharaman announced the start-up companies. Under this, about one percent of the companies will be allowed to work without any restriction in the beginning.
The proposal was put in the last budget speech
Finance Minister Nirmala Sitharaman said in the budget speech for the financial year 2020-21 that the government could increase the FDI limit in the insurance and pension sector. The Insurance Regulatory and Development Authority of India ie IRDA has also supported the proposal to limit FDI in the insurance sector to 74%.
Finance Minister Nirmala Sitharaman said that the National Rail Scheme 2030 is ready. A total budget of Rs 1.10 lakh crore has been given to the Railways. Apart from Indian Railways, the focus will be on the increasing metro, city bus service. A cost of Rs 18 thousand crores will be imposed for this. Now the emphasis is on bringing metro lights. It was announced to promote the metro project in Kochi, Bangalore, Chennai, Nagpur, Nashik.
Nirmala Sitharaman said that the self-reliant India package by the Modi government brought many schemes to the country during the Corona period so that the pace of the economy could be carried forward. Sitharaman said that total assistance of Rs 27.1 lakh crore was released in the self-sufficient India package. All these were similar to the five mini budgets.
Finance Minister Nirmala Sitharaman said that this time budget is a digital budget, it is coming at a time when the country’s GDP has gone to minus two times in a row, but this has happened with the global economy. The year 2021 is going to be a historic year.