Lucknow: Samajwadi Party chief Akhilesh Yadav on Thursday slammed the Centre for allowing 100 percent FDI in the insurance sector and said the move put the entire industry at risk.
In a post on X addressed to policyholders, Yadav questioned if handing over complete control of a sensitive and crisis-driven industry such as the insurance sector to foreign entities was in the best interest of the nation. Finance Minister Nirmala Sitharaman announced in her Budget speech that the permissible limit for FDI in the insurance sector would be raised to 100 percent.