Archive · 20 Aug 2025
Deputy CM: GST Exemption Must Benefit Insurance Buyers
The government is considering removing the tax (GST) on individual life and health insurance.
A government official wants to make sure this helps people buy insurance and not just make insurance companies richer.
He also pointed out that his state provides insurance to a lot of families already and wants any tax changes to benefit the customers.
The government is also looking at other tax changes and wants to make sure these are studied well.
Deputy CM suggests GST exemption on individual insurance to benefit policyholders.
Exemption aims to increase insurance penetration across the country.
Proper mechanism needed to ensure benefits reach consumers, not insurers.
Telangana covers nearly 95 lakh families under various insurance schemes.
The GoM is examining the GST exemption proposal.
- Who
- Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka.
- What
- Deputy CM discusses GST exemption on individual life and health insurance policies.
- When
- Wednesday; Decision is pending.
- Where
- Meeting of the Group of Ministers in Delhi.
- Why
- To potentially increase insurance penetration and benefit policyholders.
Consumers
Government
Tax Rates
Consumers
Lower premiums for insurance.
Government
Loss of revenue for the government, potentially impacting state funds.
- Proposal
- Exempt individual insurance from GST
- Focus
- Ensure benefits reach consumers
- Deputy CM
- Mallu Bhatti Vikramarka
- State Insurance Coverage
- Nearly 95 lakh families
- GoM Task
- Examine GST exemption
