Budget Reaction from Mr Kamesh Goyal, CEO, Bajaj Allianz Life Insurance

Hi,

 

Pls find enclosed Budget Reaction from Mr Kamesh Goyal, CEO, Bajaj Allianz Life Insurance.

 

Have also attached his picture for your reference and use.

 

Regards,

Shruti Naik

Corporate Voice Weber Shandwick

98195 35513

 

 

Budget 2009-10 By Kamesh Goyal, Country Manager, Allianz & CEO, Bajaj Allianz Life Insurance.

 

While no finance minister can propose a “please all” budget, the current proposals have a mix of good and bad. The scrapping of FBT is in right direction. The tax structure which has been left unchanged is also understandable.

 

Few things which the Honourable Finance Minister could have done to show seriousness of this ritual were –

 

1. Identified ten infrastructure projects with timelines for project clearance before the bidding process.

 

2. Few steps which would monitor the impact of outlays to rural sector and check to reduce leakages.

 

3. Named at least five PSUs where disinvestment process would have started in four months time.

 

4. Few concrete steps to reduce size and hence Government expenditure.

 

However the insurance industry had a lot of expectation like exemptions and benefits for insurance premiums or separate section in Section 80 C, so that it could have provided a boost for long term investments like life insurance.