Mamata Banerjee Urges GST Rollback on Insurance Premiums

West Bengal Chief Minister Mamata Banerjee has urged Union Finance Minister Nirmala Sitharaman to withdraw the 18 per cent GST on life and health insurance policies, calling it anti-people. Banerjee argues the GST imposes financial burdens on citizens and deters them from obtaining necessary insurance coverage.

West Bengal Chief Minister Mamata Banerjee has termed the Centre's decision to impose 18% GST on life and health insurance policies as anti-people. In a letter to Union Finance Minister Nirmala Sitharaman, Banerjee urged for a rollback of the decision.

Banerjee highlighted that the primary objective of life and health insurance is to provide financial security during times of illness, accidents, and untimely deaths. She argued that the GST on these premiums increases the financial burden on common people, deterring them from taking or continuing insurance coverage.

The Trinamool Congress supremo also criticized the withdrawal of deductions under sections 80C and 80D of the Income Tax Act in the new tax regime. Banerjee called for a review of these taxation policies to facilitate wider insurance coverage. Supporting her stance, Union Minister Nitin Gadkari and several other MPs also called for the GST rollback on insurance premiums, describing it as unfair.

(With inputs from agencies.)