Healthcare has often been considered one of the costliest needs for Indian families. In the 56th GST Council meeting, a major decision was taken to reduce GST on health-related services and equipment. Health insurance premiums, oxygen supplies, and some medical equipment will now attract lower GST, making them more affordable for the common man.
This step will directly benefit families who struggle with rising medical costs. For example, lowering GST on health insurance premiums will encourage more people to opt for insurance, which can protect them during emergencies. Similarly, reducing taxes on oxygen and life-saving equipment will bring down hospital expenses.
The council highlighted that this decision is not only aimed at providing relief to individuals but also to hospitals and healthcare providers. By making medical essentials affordable, the government hopes to improve access to quality healthcare in both rural and urban areas.
This move is also seen as a lesson learned from the COVID-19 pandemic, where the need for affordable medical infrastructure became very clear. The GST reduction will now make healthcare a little less stressful on people’s pockets.
