The GST council is expected to meet in the next 10 days to consider various contentious issues, including bringing petroleum and aviation fuel under its ambit
The transport union had been demanding a cut in insurance premium after the premium was hiked in the range of four to 30 percent for 2018-19
The notification shall replace present insurance limits in Motor Vehicle Amendment Bill, 2016 and shall come into effect once the Bill is passed by Rajya Sabha.
Data from the Insurance Regulatory and Development Authority of India (IRDAI) shows that insurers have implemented an increase ranging from 40 percent to 96 percent in the cost of the policy.
While the premium for the auto insurance goes up, the regulator is also asking the insurers to pay third party claims.
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