Why reducing GST to 5% makes more sense than exemption for affordable health insurance

Krishnan Ramachandran, MD & CEO of Niva Bupa Health Insurance, has called for a reduction in Goods and Services Tax (GST) on health insurance premiums to 5% from the current 18%. Speaking to CNBC-TV18, he emphasised that lowering GST, rather than exempting it entirely, aligns better with affordability goals and industry sustainability. Ramachandran argued that while exemption from GST might se…