Govt plans to increase overseas investment limit in insurance to 74%

With an aim to attract long-term investment from overseas, the Indian government is planning to increase the Foreign Direct Investment (FDI) limit for insurance firms to 74% from the current 49% in the upcoming Union Budget. The Insurance Regulatory and Development Authority of India (IRDAI) is seeking inputs from the industry on government instructions and a report is expected to be submitted soon, said an ET report quoting a source aware of the development. On December 2, IRDAI in a letter to insurance firms had sought the opinion of stakeholders to increase…

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Overseas aid should focus on education, say MPs

The international development committee says the proportion spent on education should be lifted from 8% to 10%. There are 250 million children around the world without access to school – and efforts to tackle this have been “shamefully underfunded”, say MPs. Committee chair Stephen Twigg warned of a “global learning crisis”. The select committee says that the Department for International Development’s spending on education is £526m per year – less than on supporting health, civil society and intervention in disasters. UN warns of schools lost in conflict Who really paid…

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