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Below Reaction on Budget By Mr. Alok Rungta MD&CEO, Generali Central Life Insurance

“The Union Budget is one of the most holistic in recent times, with a clear focus on inclusive growth. The continued emphasis on stability, easier compliance, and greater convenience for taxpayers, along with measures such as the reduction in Tax Collected at Source for education and medical expenses, will help ease cash flow pressures for families. Efforts to reduce tax litigation also reflect a more trust-based approach.

That said, there was an expectation that tax concessions for life insurance and retirement products would be revisited, as current limits no longer align with rising incomes and evolving life-stage needs. Enhanced and simpler incentives could play a meaningful role in addressing India’s protection gap.

The Budget’s push for job creation, healthcare, and connectivity is expected to strengthen household incomes. As more families become financially active, this environment underscores the growing need for life insurance not just as protection, but as a practical means to ensure income continuity and long-term financial security."

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