We are delighted that the budget has fulfilled the wish list of the health insurance sector and delivered on our long standing demand, of increasing the tax deduction limit under section 80D.

Increasing the tax deduction in health insurance premium from 15,000 to Rs 25, 000  and up to Rs 30, 000 for senior citizens will improve  affordability, accessibility and awareness of health insurance.

Health benefits for senior citizens will facilitate comprehensive health coverage for the elderly and aid tax rebate. The accident insurance for rural and BPL population with annual premium of 12  showcases focus on affordable healthcare provisioning.

This will boost health insurance penetration which is currently under 5 percent and mostly restricted to the urban areas, stimulate industry growth and encourage individuals to raise their health investment. We are confident that the budget will bring macroeconomic stability by conquering inflation, enable equal economic opportunity and lay a favorable roadmap for double digit economic growth.”

According to Mayur Gandhi,Schenker India, “Logistics and Supply Chain – The Nervous System of a Growth Engine.”

According to Sandeep Patel, MD & CEO, Cigna TTK Health Insurance, “Given the high inflation in medical treatments in India, we think this is a step in right direction and at the right time, by Honorable Finance Minister.

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