New Delhi, Feb. 1 -- The foreign direct investment (FDI) limit for insurance sector was raised from 74 per cent to 100 per cent by the Union government. The announcement was by the Finance Minister Nirmala Sitharaman while presenting her Union Budget in Parliament on Saturday.

She also said that the enhanced limit will be available for those companies which invest the entire premium in India.

"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," Sitharaman said.

Last November, the government had float...