Between private and public sector insurers, who is the leader in generating jobs? Unlike popular perception, it is the private insurance companies. During the discussions on the Insurance Amendment Act 2021, Finance Minister Nirmala Sitharaman informed the Lok Sabha justifying the FDI limit hike to 74 percent from 49 percent that private insurers employing millions of people need capital. The finance minister added that private insurers give jobs to 2.4 million Indians as against the 1.7 million employment figure of the public sector.
