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FinMin looking at relaxing investment norms for insurers
The Finance Ministry is looking at the possibility of relaxing norms for insurance companies to attract more funds for the infrastructure sector as part of efforts to prop-up the sagging economy.
During their meeting with Finance Minister P Chidambaram on Tuesday, heads of the PSU insurers pitched for relaxation in investment norms to help the sector earn more premium.
Talking to reporters after the meeting, Financial Services Secretary DK Mittal told reporters that the issue of channelising their investment into productive sectors, particularly the infrastructure sector, was discussed.
“For that what changes are to be made in the regulations by the Government of India or by Income Tax Department ... everything has been looked at,” Mittal said.
He, however said no decision was taken and another meeting would be held shortly.
The Finance Ministry is looking at the possibility of relaxing norms for insurance companies to attract more funds for the infrastructure sector as part of efforts to prop-up the sagging economy.
During their meeting with Finance Minister P Chidambaram on Tuesday, heads of the PSU insurers pitched for relaxation in investment norms to help the sector earn more premium.
Talking to reporters after the meeting, Financial Services Secretary DK Mittal told reporters that the issue of channelising their investment into productive sectors, particularly the infrastructure sector, was discussed.
“For that what changes are to be made in the regulations by the Government of India or by Income Tax Department ... everything has been looked at,” Mittal said.
He, however said no decision was taken and another meeting would be held shortly.
