Below is the views on quote from Ashish Mehrotra, MD&CEO Max Bupa Health Insurance.
“The Union Budget 2017 has laid a strong thrust on tax proposals, prudent fiscal management and building a digital India. The Finance Minister also spoke about the positive impact of demonetization and how it will create a new normal wherein the GDP will be bigger, cleaner and real. All this will stimulate growth and provide a boost to the economy. Tax relief for those in the lower income groups and SMEs will increase the disposable income of the middle class, which should propel people to invest in their health via personal health insurance schemes. Digitization through means like Aadhaar enabled payment systems and e-transactions through platforms like UPI, will provide a strong impetus to the economy and, in particular, the health insurance sector, as payment gateways between customers, insurers and hospitals will become faster and automated. Aadhaar cards with health status of senior citizens will help insurers like us design products suitable to their needs and also resolve the issue that insurers face in recording health profile of customers at the point of enrolment. The removal of 5% of TDS from commission of insurance agents will provide a further fillip to the sector, boost agent retention and encourage more young entrepreneurs to join the industry. Moreover, relaxation in the FDI regime with the phasing out of FIPB board will ease foreign investment flow in the country.”
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