New Delhi. Nitin Gadkari’s name is also among the top ministers of PM Narendra Modi’s government. Nitin Gadkari has also been the National President of BJP. Now he has made such a demand from Finance Minister Nirmala Sitharaman and if this demand is fulfilled, then millions of people who have life insurance and medical insurance can be happy. Actually, there is a demand to reduce or completely abolish the GST on life insurance and medical insurance. Now Nitin Gadkari has also written a letter to Finance Minister Nirmala Sitharaman demanding the abolition of GST on life insurance and medical insurance.
Nitin Gadkari has written a letter to Finance Minister Sitharaman saying that the development of the insurance sector is being affected due to GST. He has also written that the burden of expensive treatment on senior citizens is also increasing due to GST on medical insurance. Gadkari has written in his letter that a decision should be taken on imposing GST in the insurance sector. Due to high GST, people are not getting comfortable with insurance and it is affecting the society. Nitin Gadkari has asked the Finance Minister to take steps to strengthen the government and private sector insurance companies. He has written that tax savings should also be encouraged on taking insurance, so that common people feel relieved. Gadkari has written that for this, the provision of income tax exemption on insurance premium should be made again.
Nitin Gadkari has written in a letter to Nirmala Sitharaman that life insurance and medical insurance are very important for taking the society forward. He has argued that imposing GST on life insurance is taxing the uncertainty of life. If someone is taking steps to provide security to the family, then it should be given tax relief. Gadkari has also written to the Finance Minister that if she gives relief from GST, then people’s inclination will increase towards getting insurance. They should not be discouraged by imposing GST.