New Delhi: Trinamool Congress (TMC) is demanding a review of the 18 per cent GST on life and health insurance premiums. West Bengal Chief Minister Mamata Banerjee criticized the tax as “anti-people,” while the party’s floor leader Sudip Bandyopadhyay raised the issue in Lok Sabha.
Mamata urged Finance Minister Nirmala Sitharaman to reconsider the tax and requested the inclusion of deductions for insurance premiums in the new tax regime. Trinamool and DMK MPs walked out of Lok Sabha in protest, accusing the government of lack of clarification on the issue.
Meanwhile, Trinamool is gearing up to raise the issue in Parliament, with plans for a Rajya Sabha discussion led by Derek O’Brien. Mamata highlighted the burden the GST places on ordinary citizens and emphasized the importance of insurance as a social safety net.
Mamata stressed that the GST on insurance premiums adds to financial strain, making it difficult for people to afford essential coverage. She called for the withdrawal of the tax to ensure citizens’ well-being and reduce the government’s financial burden during emergencies.
Bandyopadhyay echoed this sentiment in Lok Sabha, demanding the rollback of the 18% GST on insurance. Trinamool and DMK MPs walked out, citing the lack of government response on the issue.
Published 02 August 2024, 12:35 IST