Union Minister’s proposal will enhance financial resilience, say activists

It is an interesting development. Removing GST on life and medical insurance could potentially make these essential services more affordable for many people, encouraging more individuals to opt for them. This move aligns with the idea that life and health insurance are critical safety nets and reducing their cost would promote wider coverage and financial security. - Shaik Salauddin, founder president, Telangana Gig and Platform Workers Union

Removing GST from life insurance will enhance the financial resilience and well-being of vulnerable segments of our population, especially Pasmandas, contributing to their socio-economic upliftment. Union Minister Nitin Gadkari’s vision of affordable life insurance means more families can have financial protection. - Adnan Qamar, Telangana president, All India Pasmanda Muslim Mahaaz

Eliminating GST on life and medical insurance will be one of the milestone steps in 2024 post elections, as it will be in good faith for the people of India which will help lower and middle class people to make them believe in Modi 3.0 government and give a powerful message and mark the beginning of new India under the supreme and trusted leadership of Prime Minister Narendra Modi. As insurance provides safety and makes it more affordable, this would encourage more people to invest in their well-being and security. - Mir Firasath Ali Baqri, BJP leader

Imposing taxes on health or medical-related services places a significant burden on poor and middle-class individuals, who are already suffering from income inequality and inflation. The government should immediately remove GST on insurance and other health-related services, as both pre-GST and new policyholders have faced increased premium amounts due to higher rates. Instead, health taxes can be levied on products that have a negative impact on public health, such as tobacco, alcohol, and sugar-sweetened beverages. - SQ Masood, social activist

Eliminating GST on life and medical insurance premiums would offer much-needed financial relief to citizens. It feels unfair to tax these essential services, as it adds an extra burden on individuals who are trying to protect their families’ future and health. Removing this tax would make insurance more accessible and affordable for everyone. In times of uncertainty, insurance provides a safety net, and making it more affordable would encourage more people to invest in their well-being and security. Health is very important, and reducing the financial strain associated with health insurance is a step towards a healthier, more secure society. While many are not receiving good treatment in government hospitals, removing the GST would enable more people to adopt private insurance, ensuring access to high-quality medical care. - Asif Sohail, political analyst