The Union Budget 2014-15 while announcing a liberalised FDI caps for insurance, railways and defence was silent on
Cabinet has approved 49 pct foreign investment in insurance firms, with Indian control.
Jaitley also clarified that government would move ahead with hiking the FDI cap in the defence sector.
Eight listed firms with insurance subsidiaries record 2%-10% gains.
In his budget speech, FM Arun Jaitley had said that insurance sector is investment starved.
Budget 2014 talked of developing career centres. We need to make them work
Foreign investors, till now, were only allowed to invest in equity shares and compulsorily and mandatorily convertible preference shares.
Fitschen was part of a delegation of German industry that called on finance minister Arun Jaitley earlier on Friday, a day after the finance minister presented his Budget.
FM Arun Jaitley announced that the FDI cap in the insurance sector would be increased to 49 per cent.
The CPM has also attacked the budget for failing to come up with a “concrete proposal” to check food inflation.
After rail budget, Bengal and several other states have been deprived in the Union Budget too, said Mamata.
Finance minister Arun Jaitley on Thursday imposed a tax on imports telecom and IT products.
There cannot be sustained manufacturing growth and economic justice to the poor, unless a government exercises fiscal prudence, and controls inflation.
The government is looking at defence production as a key player in its strategy to revive manufacturing.
Budget rightly focuses on jumpstarting investments by focusing on infrastructure and manufacturing revival.