In a bid to give boost to the slowing insurance industry, Finance Minister Nirmala Sitharaman announced the opening up of the sector to 100 per cent FDI, up from the previous limit of 74 per cent.
In her eighth Budget speech on Saturday, Sitharaman said, "This enhanced limit will be available for those companies that invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified."
