New Delhi: Subrata Mondal, Managing Director and Chief Executive Officer of IFFCO-TOKIO General Insurance Company Limited, has described the Union Budget 2026 as a balanced and growth-oriented fiscal roadmap that addresses key structural and sectoral priorities.
In a statement on the Budget issued to Ziraat Times, Mondal said the exemption of interest awarded by Motor Accident Claims Tribunals (MACT) from income tax, along with the removal of tax deducted at source (TDS) on such interest, will significantly ease the process of motor claim settlements. He noted that these measures are expected to improve the overall experience of claimants and reduce procedural hurdles.
Welcoming the proposed review of the Foreign Exchange Management Act (FEMA) Non-Debt Instrument (NDI) Rules, Mondal said the move would help create a more investor-friendly environment by enhancing capital flexibility and encouraging greater global participation in the insurance sector.
He further said that the proposed Infrastructure Risk Guarantee Fund, combined with the continued push on public capital expenditure amounting to ₹12.2 lakh crore, would improve project bankability and expand the pool of insurable assets. According to him, these initiatives are likely to unlock new opportunities across infrastructure, health and specialty insurance segments.
Mondal added that the overall thrust of the Union Budget 2026 reflects a strong commitment to sustainable growth and long-term development across sectors.
