The Union Budget 2021 has certainly struck the right chord on many large expenditure and capex proposals. Still, if viewed from the perspective of giving impetus to FDI inflows, or to say opening floodgates for FDI, the budget could have done much better. Of course, the Budget has opened the insurance sector by setting the FDI sectoral cap from 49% to 74%. This was much awaited and is likely to attract FDI in this major financial services sector, but is this going to be enough for India Inc’s in this major financial services sector, but is this going to be enough for India Inc’s insatiable desire for FDI?
Please click here to read the full article by Lalit Kumar, published in The Economic Times.