News From Press Budget 2020: Parity with NPS, separate tax deduction, what insurance sector wants

Budget 2020: Parity with NPS, separate tax deduction, what insurance sector wants

Union Budget 2020 must bridge the gap between taxation of pension policies issued by life insurance companies and pension products under NPS, want insurers

Mint Jan 31, 2020

Union Budget 2020 must initiate some new measures to make insurance policies more attractive and customer-friendly, insurance players have demanded. In 2018, insurance penetration in India continues to be one of the lowest at 3.70%, according to the annual report by Insurance Regulatory and Development Authority of India (IRDAI).

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