Nitin Gadkari Urges FM Nirmala Sitharaman to Withdraw GST on Life and Medical Insurance Premiums

Union Minister Nitin Gadkari urged Finance Minister Nirmala Sitharaman to remove the GST on life and medical insurance premiums. This follows a plea from the Nagpur Divisional Life Insurance Corporation Employees Union, which argues that the 18% GST on these premiums burdens individuals protecting their families and health. Gadkari emphasized that this tax hinders the growth of the insurance sector, crucial for public health. He also highlighted concerns about differential savings treatment and the need for tax deductions on health insurance premiums.