TMC's O'Brien urges Sitharaman to withdraw 18% GST on insurance premiums

August 25, 2024 11:40

Finance Minister Nirmala Sitharaman

TMC leader Derek O'Brien has urged Finance Minister Nirmala Sitharaman to "urgently review" and withdraw the 18 per cent GST on health and life insurance premiums during the upcoming GST Council meeting.

O'Brien, in a letter dated August 24, demanded that the GST on health and life insurance premiums be withdrawn at the 54th meeting of the GST Council.

"The 18 percent Goods and Services Tax on health and life insurance premiums is a burden on 45 crore Indians comprising the middle-class," said O'Brien, the Trinamool Congress' leader in the Rajya Sabha.

"These insurance schemes provide financial security during times of distress, may it be an illness, accident, or untimely death. It is our collective responsibility to ensure that all sections of society are able to afford this crucial social safety net," he said.

O'Brien also expressed fear that levying a high GST rate on health and life insurance might lead to many citizens not opting for insurance schemes or even existing policyholders not renewing their policies.

"The public at large, and especially the middle-class, has been severely impacted by this," he said. -- PTI

« Back to LIVE

TOP STORIES

Ex-student leader of Hasina party dies while fleeing to India

Khan said he learned that Panna had entered India through the Tamabil border in Sylhet, where he died.

Missing trainer aircraft located in reservoir; pilot, trainee dead

The bodies of the instructor, Captain Jeet Satru, and trainee Subrodeep Dutta were found in the reservoir of the dam on Thursday.

EPL Roundup: Chelsea, City register massive wins

Roundup of the English Premier Leageue matches held across England this weekend

Rahul turned down caste census resolution under Mamata's pressure: Lalan

Singh was JD-U president when the party was part of the INDIA bloc and used to accompany Bihar Chief Minister Nitish Kumar to the coalition's meetings.

Doctor attacked in Delhi hospital just days after strike ends

The incident took place at Doctor Hedgewar Hospital in Karkardooma in New Delhi late on Saturday night while the doctor was providing critical care.