Centre has proposed to increase FDI cap in insurance sector to which percent in the Union Budget 2021?

A. 54%

B. 64%

C. 74%

D. 84%

Explanation:

A key take away from the Union Budget 2021 is that the Centre has proposed to increase FDI cap in insurance sector to 74%. Presenting the Budget, Finance Minister Nirmala Sitharaman, announced that the government will amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to 74%.