New Delhi, Feb. 1 -- Finance Minister Nirmala Sitharaman, in her Budget speech today, announced raising FDI limits for insurance for insurance sector from 74 per cent to 100 per cent, though with certain restrictions.

"The FDI limit for the insurance sector will be raised from 74 to 100 per cent. This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified," she said.

The central government had in November floated a few proposals for the insurance sector, including raising the FDI limit in Indian insurance companies from 74 per cent to 100 per cent, and enabling an insurer to carry on one ...