Can GST relief and foreign capital fix India’s insurance gap? - Forbes India

The government is betting that a mix of tax relief and market-opening reform can fix one of the country’s most stubborn gaps: Insurance coverage. A new bill that allows 100 percent foreign ownership of insurers is expected to draw Rs 35,000-70,000 crore into the sector while a recent exemption of insurance premiums from the goods and services tax has reduced costs for consumers —steps analysts say…