Since 2014
Life Insurance Sector Development and Economic Growth of India in the Changing Policy Regime
Journal of Economics, Trade and Marketing Management
View Archive Info| Field | Value | |
| Title |
Life Insurance Sector Development and Economic Growth of India in the Changing Policy Regime
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| Creator |
Mishra, P K
Mir, Javaid A. |
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| Description |
The changing economic scenario of the Indian economy posed new challenges to almost all the sectors of the economy, and the insurance sector is no exception. The introduction of insurance sector reforms not only eliminated the monopoly of life insurance sector, but opened up the insurance windows to the private players which increased the competition in many folds, especially since 2000. The reforms brought an overall increase in insurance penetration as well as insurance density in the country. As a result, the insurance industry is today more efficient and exerts considerable positive impacts on the growth of the Indian economy. The insurance sector contributes to a rise in labour productivity through efficient investments, and also generates productive employment opportunities. In this context, this paper examines dynamics of the relationship between the development of life insurance sector and the real economic growth in the changing policy regime in India, and provides the evidence of the positive and significant relationship between them. Therefore, it is suggested to prioritize the focus on the further development of the sector may be through the implementation of prudent policies to increase rural penetration of life insurance in India. Also, the inclusive growth strategy in the country can be effectively mobilized to enhance the development of the life insurance sector.
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| Publisher |
Scholink Co., LTD
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| Contributor |
—
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| Date |
2019-05-21
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.scholink.org/ojs/index.php/jetmm/article/view/2041
10.22158/jetmm.v1n1p34 |
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| Source |
Journal of Economics, Trade and Marketing Management; Vol 1, No 1 (2019); p34
2642-2417 2642-2409 |
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| Language |
eng
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| Relation |
http://www.scholink.org/ojs/index.php/jetmm/article/view/2041/2187
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| Rights |
Copyright (c) 2019 P K Mishra, Javaid A. Mir
http://creativecommons.org/licenses/by/4.0 |
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