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Below the Pre-Budget Expectation Quote by Mr. Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Company Ltd.

"As we eagerly anticipate the upcoming budget, our expectations for the insurance sector revolve around key reforms that can fortify its role in fostering financial security and resilience. Firstly, the pressing need for a dedicated tax exemption category for term insurance is paramount. Section 80C's limitations necessitate a tailored framework, ensuring term insurance's rightful place in comprehensive financial planning. Recognizing the pivotal role of retirement planning in shaping a secure future, we advocate for a reduction in taxes on pension and annuity products. This strategic move not only encourages early investments in retirement plans but also aligns with broader goals of promoting responsible financial planning. Additionally, there is a call for the restructuring of the Goods and Services Tax (GST) on specific insurance products. Lowering GST on these products is not just about enhancing affordability; it's about expanding accessibility to a wider demographic. This aligns with our commitment to promoting financial inclusion and ensuring that crucial insurance products are within reach for all. Besides increasing FDI limit from the current 74% to 100% is another bold and pathbreaking change that can be announced in the budget to support of growth in Life insurance sector. In summary, our expectations for the budget are centred on creating an environment that empowers the insurance sector to play a more robust role in securing the financial well-being of our citizens. These proposed measures aim to enhance the overall financial landscape, meeting evolving needs of the common man and contributing to a secure and prosperous future for all."

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