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Nani Javeri,
CEO,
Birla Sun Life Insurance
What is your opinion about Budget 2003-04?
“It is a good budget being growth oriented. The measures
outlined by the Finance Minister especially relating to
the infrastructure, tourism and health sectors should give
a positive impetus to the economy. I would give this budget
a
score of 7 on 10. However, the speech by the Finance Minister
was singularly silent on labour reforms.
What benefits has the Budget brought for the insurance
sector?
From the Life Insurance sector perspective, we are extremely
disappointed with the amendments proposed in ection10(10D)
and Section 88 and we appeal on behalf of the industry that
the same be reviewed.
The announcement for the creation of the new pension fund
regulatory authority and increase in service tax to 8% will
have an impact on the industry, the full extent of which
will be known when we have the details.”
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