United India Insurance launches critical health policy

UNI Criticare policy covers 11 critical diseases.

State-owned United India Insurance Company announced the launch of a critical care health insurance product.

UNI Criticare policy covers 11 critical diseases. The policy targets people in the age group of 21-65 years, the company said in a statement.

For the first nine months of the current financial year, the company had recorded a net profit of Rs414.41 crore, up 24% from a year ago period.

The company collected Rs5,872 crore premium during the first nine months of 2011-12, a rise of 27%.

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COMMENTS

Sheila Pai

5 years ago

I have a Max Bupa insurance policy of Rs. 50 lakh cover for last one year. I have not utilized any amts as I am in good health. I want to transfer this policy to another insurance company but for Rs. 25 lakh cover.

Decontrol urea prices; raise excise duty: PMEAC

Expressing concern over high fiscal deficit which is expected to overshoot the target of 4.6% of the gross domestic product (GDP) this fiscal, chairman of Prime Minister's Economic Advisory Council C Rangarajan said the government "must try" to contain and improve efficacy of subsidies

New Delhi: Amid widening fiscal deficit, the prime minister's economic advisory panel today suggested aligning diesel prices to global market in a phased manner and also raising excise and service taxes to pre-crisis level of 12%.

Releasing the 'Review of the Economy: 2011-12', chairman of Prime Minister's Economic Advisory Council (PMEAC) C Rangarajan also pitched for deregulation of urea prices.

Expressing concern over high fiscal deficit which is expected to overshoot the target of 4.6% of the gross domestic product (GDP) this fiscal, he said the government "must try" to contain and improve efficacy of subsidies.

"It will be necessary during 2012-13 to make some adjustments on the diesel prices in a phased manner. We have not done this for quite some time and international crude prices have gone up ... It is not possible for us to subsidise this sector beyond a level," Mr Rangarajan said.

Diesel price was last hiked in June 2011. However, the government had cut excise and customs duties to cushion the impact of the price rise, thus sacrificing annual revenue of Rs38,000 crore.

Mr Rangarajan further said that "partial reforms in the fertiliser subsidy regime of introducing nutrient-based subsidisation will not be effective unless the price of urea is decontrolled or at least raised substantially".

The government expects that its subsidy bill would increase by Rs1 lakh crore to Rs2.34 lakh crore, mainly on account of higher outlay towards fertiliser, food and oil.

On improving the tax to GDP ratio, Mr Rangarajan said the excise duty and service tax should be increased to pre-crisis level, a move which will bring in additional Rs35,000 crore.

Before the economic crisis, service tax and excise duty rates were at 12%, but as a stimulus the government had brought them down to 10% in 2008-09.

"If you go back to 12%...  as a back of envelope calculation, you can get a additional revenue of Rs35,000 crore," Mr Rangarajan added.

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Bathinda-Srinagar Gas Pipeline Project Awarded to GSPL

The total investment for the Bathinda-Srinagar gas pipeline project will be Rs855 crore in the state within 36 months.

The central government has awarded the Rs 855-crore Bathinda-Jammu-Srinagar gas pipeline project to Gujarat State Petronet Ltd (GSPL). This was revealed at a high-level meeting of officers chaired by Chief Secretary Madhav Lal, who reviewed the 750-km long Bathinda (in Punjab) to Srinagar (via Jammu) gas pipeline project. The contract of the prestigious project has been awarded by the Petroleum and Natural Gas Regulatory Board (PNGRB) of India to Gujarat State Petronet Ltd-led consortium.

Lal emphasised the significance of inter-state gas pipeline project for the people of the state saying that its early completion will ensure unabated gas supply throughout the year to the state especially winters when energy needs rise. He called for close coordination between agencies and directed for fast tracking the project.

The Chief Secretary was given a presentation about the current status of the project and its different phases, surveys and route plans for laying pipelines. Assistance of the state government was also sought for future development of city gas distribution networks and clearance issues and other related matters.

The total investment for this project will be Rs855 crore in the state within 36 months. It was further informed that the a State Act for acquiring the "Right of Use (RoU)" for laying cross country pipelines needs to be enacted by the government.

In the late afternoon, Gujarat State Petronet was trading at around Rs75.65 per share on the Bombay Stock Exchange, 6.14% down from the previous close.

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