India Insured

Budget 2008 Highlights   NEW DELHI  - Finance Minister Palaniappan Chidambaram presented the union budget for 2008/09 on Friday, the fifth and final full one of the administration before elections due by May 2009.   Banking cash transaction tax withdrawn from April 1, 2009 Indirect tax proposals to result in loss of Rs 5,000 cr Direct tax proposals to be revenue neutral Dividend of subsidiary company exempt from DDT Reduce central sales tax to 2% Increase in short term capital gains tax to 15% 5-yr tax holiday for setting up hospitals in tier-II, tier III regions Excise duty of Rs 1.35/litre on unbranded petrol Excise duty of Rs 4.6/litre on unbranded diesel Commodities Transactions Tax to be introduced Securities Transaction Tax to be treated like deductible expenditure 5-yr tax holiday to 2,3,4-star hotels in UNESCO's heritage sites NO FBT on creche, employee sports, guest houses facilities No change in corporate income tax rate No change in corp

Budget 2008 – Expectations   --Life may be less taxing after Budget – --FM may hike STT, says NSDL's Tilak --Brokerage expectations from 2008/09 budget --BPO industry seeks separate identity --Drug cos seek cure for R&D in the forthcoming budget --Animation & gaming companies want STPI-like tax break for exports --Textile machinery sector needs a booster dose --Dismantle tax on house construction: Urban Housing Ministry --Consumer durable makers for lower indirect taxes --Plantation cos look for rejuvenation package --Budget 2008: Govt should allow 100% FDI in retail --Lotus Mutual CEO expects, at best, mildly positive Budget --Excise, interest rate cuts to improve manufacturing: FICCI --Brainstorming with ET: Great minds on Budget     Life may be less taxing after Budget – NEW DELHI: Finance Minister P Chidambaram might spread cheer all around with Budget 2008-09, the last full-fledged Budget of the UPA government. A hike in the inco

Average 9% growth in 11th Plan possible: Economy Survey 2008-02-28 12:14:36 Source: CNBC-TV18 Finance Minister, P Chidambaram presented the Economic Survey 2007-08 before the Parliament today. While asserting that inflation can be contained, Mr Chidambaram also emphasized that an average GDP growth of 9% is achievable in the 11th Plan. The FM said the country's growth has been reflected in the pace at which the average income is growing. The Economic Survey, however, reveals that capital inflows have been putting pressure on prices. On investment opportunities, the Survey assures that a climate conducive for investment will be maintained. The FM said there is no need to ensure non-inflationary growth. Excerpts from Finance Minister, P Chidambaram's speech: I have just placed the Economic Survey for 2007-08 on the table of the House, and I wish to make a brief statement. The economy has decisively moved to a higher growth trajectory during the five years t

S. V. Mony ( Keynote address-IAOI CILA conference @ Pune, Aug 2, 2007) Brief overview It is nearly seven years since the Indian insurance market was opened up. In life insurance, we have seen unprecedented growth which is continuing. By the end of the financial year 2007-08 we are likely to see more than twenty life insurance companies in India. A frequently asked question is: what is the optimum number of insurance companies that is ideal for India's needs? Considering that life insurance penetration is 3% of GDP and that one is aiming at say 7% or 8% of GDP, that vast sections of people are still not covered by life insurance and large geographical areas are untouched by insurance, we can say that we have a long way to go and that there is room for more insurance companies. The annual 'new business' growth has been around 100% for the last three years and it looks likely that such a growth will continue for some time. That such an incredible growth, to a great ext