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Below is Post Budget Reaction From Shri Devesh Srivastava, CMD, General Insurance Corporation of India (GIC Re)

“In today’s Parliament, our Hon Finance Minister has delivered a holistic and futuristic Budget ensuring the strengthening of our Economy. Saptrishi, the 7 priorities of Budget 2023 are in support of the government’s 'Aatmanirbharta' mission, focusing on Inclusive development, Youth Power, Infrastructure and investment, Financial Sector, and women’s empowerment.

The Hon Finance Minister has yet again taken commendable steps to strengthen our Agriculture sector. The new ‘Agriculture Accelerator Fund’ will not only motivate our young entrepreneurs in rural areas towards Agri start-ups but also, benefit the farmer by providing innovative and affordable solutions for the challenges faced by them.

Today’s proposal by Hon Finance Minister to raise the capital expenditure target by 33% to Rs. 10 lakh crores, which is 3.3% of the country's economic output, will shore up demand and consumption in the economy. This massive capital expenditure planned will give a boost to the reinsurance sector.”

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