Excelsior Correspondent
NEW DELHI, Aug 21: A delegation of All India General Insurance Agents’ Federation Integrated (Regd), led by its President Basavaraj and General Secretary Lokessh K.C., today called on Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh and discussed GST related issues with him. They also submitted to the Minister a memorandum citing some of their other demands including the insurance cover for themselves.
The members of delegation submitted before Dr Jitendra Singh that the GST tax slab for general insurance is 18% whereas, according to them, earlier it was 15%. To this, the Minister explained that since the GST regime follows four slabs of 5%, 12%, 18% and 28% respectively, therefore, it was judiciously decided to place the insurance sector under the this tax slab. Moreover, he said, each and every decision in GST, including this one, has been taken unanimously with the consent of the representatives of all the State Governments and other stakeholders.
The implementation of GST, Dr Jitendra Singh said, has proceeded very smoothly and successfully, and the GST Council meetings continue to take place regularly from time to time in order to review the different emerging situations and update their views on the different aspects of this new regime. As the Indian economy evolves, he said, it is also possible that in the times to come, we may have simply three slabs instead of four slabs of tax in the GST regime. But, all this has to happen in a natural course and judiciously, he added.
The members of delegation presented a memorandum to Dr Jitendra Singh in which one of the main demands was that the insurance agents should get the benefit of “Group Term Insurance”. Similarly, they also requested for medical care insurance cover for the agents as well as an “Agent Group Personal Accident Policy” which, according to them, is not available to the insurance agents at present.
Reiterating their commitment to serve the nation, the memorandum also pleaded for the provision of professional training from relevant reputed institutions as a part of value addition and professional continuous education / upgradation for career agents in the insurance sector.
The memorandum also made a number of other suggestions including uniform service for retail and auto tie-up policies, higher coverage for senior citizens and more and more use of digital portals and mobile apps.
Dr Jitendra Singh gave a patient hearing to the members of delegation. He said, since most of the demands put forward by them pertain to the Union Finance Ministry, he will accordingly forward their representation to the concerned Ministry for its perusal.
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