New Delhi, Aug. 21 -- The Centre has proposed exempting individual life and health insurance premiums from the goods and services tax (GST), a move that received positive response from a panel discussing the issue during crucial consensus-building talks in New Delhi on Wednesday. At present, these premiums invite an 18% GST rate. Union finance minister Nirmala Sitharaman is spearheading efforts to build state consensus on Prime Minister Narendra Modi's "next generation" GST reforms ahead of the promised Diwali implementation, with the insurance exemption forming a key component of the broader overhaul. Sitharaman is reaching out to three Groups of Ministers (GoMs) - the engagements were planned over Wednesday and Thursday - to secure agreement for reforms that would deliver Modi's promised "very big gift" to citizens this Diwali, now about two months away.P14...