Can Budget 2025 Unlock New Opportunities For Insurance And Fintech Sector?

As Budget 2025 approaches on February 1st, all eyes are on the insurance sector to see what reforms and incentives may be announced to drive growth and financial inclusion. With over 100 crore people still lacking financial protection, the insurance industry is calling for several key reforms to address affordability, accessibility, and distribution challenges.
In this exclusive interview, Yashish Dahiya, Chairman & CEO of PB Fintech, speaks to Business Today TV about what the insurance sector expects from the upcoming Budget. Some of the major expectations include:
1. Tax Reforms: A call for exclusive exemptions for term insurance under Section 80C, and an increase in the 80D deduction for health insurance, especially for senior citizens.
2. Health Savings Account (HSA): Advocating for tax exemptions to encourage individuals to save for medical emergencies.
3. Retirement Planning: The industry is asking for tax-free annuity income for pension products to incentivize long-term financial security.
4. GST Reconsideration: A push for a reduction in the 18% GST on health and term insurance to make these products more affordable for consumers.
Additionally, the Fintech ecosystem is seeking stronger policy support to overcome funding challenges and create sustainable growth. With the startup sector also facing challenges, including credit access and talent retention, ESOP tax reforms are essential to attract top-tier talent.
Mark your calendars for February 1st, as Budget 2025 could unlock significant opportunities for the insurance and fintech sectors. Everything will be revealed on Budget Day!
Tune in to watch the full interview with Yashish Dahiya exclusively on Business Today TV!
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