LIC – Bharat Tech Pulse

Budget 2026: Insurers Lobby for ₹50,000 Tax Shield and 5% GST Pivot to Secure 'Bharat'

Budget 2026: Insurers Lobby for ₹50,000 Tax Shield and 5% GST Pivot to Secure ‘Bharat’

India's insurance giants are demanding a radical tax overhaul in Budget 2026, including a 5% GST pivot and a dedicated ₹50,000 deduction limit. The move seeks to bridge a massive protection gap as the nation eyes 'Insurance for All' by 2047.

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May 13, 2026

Budget 2026: Insurance Giants Demand ₹50,000 Tax Break to Shield 1.4 Billion Indians

Money & Policy

Budget 2026: Insurance Giants Demand ₹50,000 Tax Break to Shield 1.4 Billion Indians

The insurance industry is demanding a dedicated tax deduction to bridge India's massive protection gap. As Budget 2026-27 approaches, the focus shifts to whether the Finance Ministry will finally decouple life covers from the crowded Section 80C.

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May 5, 2026