Senior TMC leader Derek O'Brien on Monday urged the government to reduce 18 per cent GST on health insurance policies, saying the high tax rate is burdening people, especially the middle class. Raising the issue during Zero Hour in Rajya Sabha, he also referred to a letter written to the finance minister by senior BJP leader and Union Minister Nitin Gadkari making similar demand. "The demand is straightforward. Reduce 18 per cent GST on medical and health insurance. We should reduce it because this is an issue which is burdening people, mainly the middle class. That's why it needs to be reduced," said Derek. The TMC leader pointed out that insurance penetration in India is low at 4 per cent compared to more than 7 per cent globally. Further, he said there is an imbalance in the insurance sector, where 75 per cent is life insurance policies, and 25 per cent medical insurance. Derek said the West Bengal chief minister has written to the finance minister in this regard and many ... Read The Rest at :