By Nikunj Ohri

NEW DELHI (Reuters) -A panel of Indian state ministers on goods and services tax (GST) has proposed exempting tax on health and life insurance premiums for individuals, two state ministers told reporters on Wednesday.

The panel met days after Prime Minister Narendra Modi announced sweeping cuts to the GST to boost India’s economy in the face of trade conflict with Washington.

The panel of state ministers has proposed exempting health and life insurance premiums for individuals from the current 18%, the deputy chief minister of Bihar state, Samrat Chaudhary, said after the meeting in New Delhi.

The final decision will be taken by the GST council, which is chaired by the federal finance minister and includes all state finance ministers as members.

The GST council meeting

See Full Page