The Finance Ministry has clarified that while certain government-backed health and life insurance schemes are exempt from GST, there are no plans to extend this exemption to all policies. Exemptions currently apply to programs like the Rashtriya Swasthya Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, which target economically disadvantaged groups. A Group of Ministers has been formed to evaluate the implications of GST on these sectors, with their recommendations pending review by the GST Council.
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