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GST council GoM to meet soon on lowering taxes for insurance premiums
The Jaisalmer meeting is said to have discussed changes in tax rates on various items, including Kashmiri shawls, used electric and fossil fuel cars
PATNA: The goods and services tax (GST) council’s group of ministers (GoM) requires another meeting to discuss lowering taxes on insurance premiums for individuals, senior citizens, and groups, the GoM’s convener Samrat Chaudhary said after a meeting of the council in Rajasthan’s Jaisalmer on Saturday.
Chaudhary, who is the deputy chief minister and finance minister of Bihar, said that many ministers had suggested a meeting of GoM to discuss GST on insurance premiums and prepare a comprehensive report on the matter. “We will meet again next month and submit the report to the GST council, headed by Union finance minister Nirmala Sitharaman,” he told HT over the phone from Jaisalmer.
The Jaisalmer meeting is said to have discussed changes in tax rates on various items, including Kashmiri shawls, used electric and fossil fuel cars, garments priced over ₹1,500, and bicycles. However, discussion on GST for insurance premiums was postponed.
On Friday, Chaudhary attended the pre-budget meeting chaired by Sitharaman and submitted a 32-page memorandum, requesting financial assistance of over ₹1.50 lakh crore for Bihar’s holistic development.
Chief ministers and finance ministers from several states attended the meeting.
In the memorandum, Chaudhary urged the central minister to launch an upgraded version of the Pradhan Mantri Gram Sadak Yojana and requested an interest-free allocation of ₹25,000 crore for this purpose. He also sought Bihar’s share in the cess and surcharge collections by the Centre.
Chaudhary also requested ₹48,320 crore for a greenfield expressway between Deoghar (Jharkhand) and Pashupatinath (Nepal), high-speed corridors, flyovers, and bridges. He sought an additional ₹1,000 crore for agricultural infrastructure development, including modernizing bazaars and establishing horticulture research centres.
Apart from seeking ₹6,739 crore in financial support to modernise the operations of the state discoms and the north and south Bihar power distribution companies, Chaudhary urged Sitharaman to allocate sufficient funds to strengthen transport infrastructure, including rail, road, air, and waterways in the state.
“Doubling the Forbesganj-Darbhanga railway track, new railway lines connecting Bihar and Aurangabad, and Sultanganj and Deoghar, development of Darbhanga airport as an international airport, ₹2,500 crore for the Bhagalpur airport, and ₹10,000 crore for urban and industrial infrastructure in ten cities, including Patna, are among the major demands,” added Chaudhary.
Regarding the road network, Chaudhary said that he had submitted a ₹48,320 crore proposal for the development of a 250 km greenfield expressway between Deoghar in Jharkhand and Pashupatinath temple in Nepal, a 270 km high-speed corridor from Ladania to Nawada, a 135 km corridor between Raxaul and Dighwara, another bridge over the river Ganga, and the construction of flyovers on 120 roads.
He also demanded a ₹1,000 crore grant for the development of agriculture and cooperative sector infrastructure, which includes the modernisation of 32 bazar samitis, the establishment of offices for horticulture and agricultural research centres, and a regional centre of the team board in Bihar.
