GST On Health & Life Insurance: यूनियन बजट 2025 से इंडियन हेल्थ सेक्टर भी आस लगाए बैठा है. यह सेक्टर उम्मीद करता है कि आने वाले बजट में सरकार ऐसे फैसले लेगी, जिनसे ज्यादा से ज्यादा लोग इन्श्योरेन्स पॉलिसी लेने के लिए उत्साहित होंगे.
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~ED.148~HT.336~GR.124~
#healthinsurance #gst #nirmalasitharaman #gstcouncil #lifeinsurance #gstonhealthinsurance #latestnews #gstcouncilmeeting #gstoninsurance #gstoninsurancepremiums #breakingnews #taxrebateonhealthinsurance #taxonhealthinsurance #gstonhealthinsurancepremium
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NewsTranscript
00:00On 1 February 2025, the Union Budget will be presented in the country and everyone is looking forward to it.
00:14Every sector has high hopes for this budget.
00:18The Indian health sector is also looking forward to the Union Budget 2025.
00:23This sector hopes that the government will take such decisions in the coming budget,
00:28which will motivate people to take an insurance policy.
00:32So let's tell you in detail in this video, what can be announced for the Indian health sector in this budget.
00:40Health insurance can be done by reducing GST on premium and taxing it under Section 80D.
00:48In 2024, the performance of Indian insurance companies was mixed.
00:53Some companies made good profits, while some suffered losses.
00:57Looking at the performance of insurance companies in 2024, General Insurance Corporation of India i.e. GIC gave a great return of 44%.
01:06While ICICI Lombard and ICICI Prudential Life Insurance also performed well.
01:12On the other hand, the return of Life Insurance Corporation i.e. LIC was only 7%.
01:17Some companies like SBI Life, HDFC Life and Star Health suffered losses.
01:22And this makes it clear that the situation in the insurance sector is very different.
01:27Insurance experts want GST rates on health insurance and term insurance to be reduced,
01:34which makes it expensive to take insurance for people.
01:37If GST is reduced, health insurance will reach more people and more people will be able to benefit from it.
01:45This will encourage people to take health insurance.
01:48Under Section 80D, health insurance premium is taxed, but this tax is very limited.
01:55The demand of the industry is to increase it from Rs 25,000 to Rs 50,000 so that people can take more health insurance.
02:03Especially for senior citizens, this tax should be increased to Rs 1 lakh.
02:08Apart from this, this tax should also be applicable in the new tax regime.
02:12There is another big challenge in front of insurance companies and that is the increasing cost of treatment.
02:17This means that the cost of hospitals is continuously increasing.
02:21Insurance companies can change the price of their products once in just 3 years.
02:26Therefore, experts say that a separate regulatory body should be created to determine the cost at the hospital level.
02:34This will give transparency to the services and money given to hospitals,
02:39and it will be easier for insurance companies to determine the price of the product.
02:44Insurance companies say that a separate tax exemption should be given for life insurance premium.
02:50Until now, this exemption was given under Section 80C, but if it is removed, people will buy more life insurance,
02:57and this will benefit the insured person and the insurance sector will also benefit.
03:03One of the demands of the insurance sector is to re-examine the income tax slab and tax limits
03:09so that people have more disposable income and can invest more in insurance.
03:15And the insurance market will increase.
03:17Not only will we see growth in the insurance sector, but people will also get security.
03:23In Budget 2025, these changes can be made to the insurance sector,
03:29which will have a positive impact on ordinary people and increase their security.
03:35So what is your opinion on this news?
03:37Give us your opinion in the comment box and keep watching Good Returns for such updates.
03:41Don't forget to like and subscribe to our channel.