Government considering 49% FDI in insurance sector

New Delhi, Jan 31 (UNI) A hike in foreign direct investment (FDI) upto 49 per cent in the insurance sector and foreign private equity (PEs) participation in education and health is being taken into consideration by the government.

Minister of State for Finance Pawan Kumar Bansal said despite compulsions of the UPA government, the Ministry of Finance has been pushing to hike FDI's limit into insurance sector from current 26 per cent to 49 per cent and hoped that it would succeed.

Answering a query on overseas PEs entry into education and health, the Minister said since Indian economy has opened up and further reforms on private foreign equity entry into education and health are on lines of government thinking, PE players will be permitted to park their surpluses in education and health, indicated Mr Bansal without specifying any time limit for the move.

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