Question

Consider the following statements:
$1.$ $74$% Foreign Direct Investment in Insurance sector in Indian economy is allowed with subject to licensing by the Insurance Regulatory and Development through automatic route.
$2.$ Insurance is included in the secondary sector of Indian economy.
Which of the statements given above is/are correct?

• A. Only $1$
• B. Only $2$
• C. Both $1$ and $2$
• D. Neither $1$ nor $2$

Answer 1

The correct option is D Neither $1$ nor $2$

Up to 49% of FDI is allowed in the insurance sector by the Indian government. This includes insurance company, brokers,and other administrators. Insurance is part of the services and forms a part of the tertiary sector.