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How has Budget impacted life insurance companies?

From expectations of a separate investment window for life insurance policies for the purpose of tax benefits to anticipating higher FDI limit, investors and analysts had pinned hopes on the Budget offering a big push to the insurance sector. Instead, the Budget, by way of introducing a new personal tax regime — lower tax rate sans most exemptions and deductions — and abolishing the dividend distribution tax (DDT), making dividends taxable in the hands of recipients, has rattled investors. In a knee-jerk reaction, the stock of listed life insurance companies fell, notably post-Budget announcements.

While they have recouped some of the losses ...

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