First it was union minister Nitin Gadkari, who spoke about the need to remove the GST on life and health insurance. While his letter, which apparently was revealed without his permission but then there were some reports which suggested that the fitment committee will recommend it to the GST council to look at considering the waiver. Whether this happens or not it has to be seen. But one thing is for sure that the insurance sector is one sector where a narrative got created around overall opportunity and expectations were sky high and then in reality things didn't turn out to be as expected and the stocks have also not performed. But over the years, insurance companies have also learnt their lesson over time and probably after a long phase they have reached a point where things would improve as the insurance product finally becomes a product which is taken as a need and not as tax saver.
