Government Says Gutkha, Pan masala come under food category

State government says one year ban on manufacture and sale of gutkha and paan masala, on Tuesday told the Bombay High Court that the two products come under the ‘food’ category under the Food Safety and Standards Act (FSSA), 2006.

Five gutkha manufacturers had challenged the state government’s notification of July 19 banning the manufacture, distribution, storage and sale of gutkha-paan masala. The ban has been invoked under the FSSA.

The affidavit by Advocate General D J Khambata and government pleader D A Nalavade stated that manufacturers, while insisting that the central legislation would cover the sale of gutkha and paan masala, “have ignored the mandate of a later special statute. The FSSA, also enacted by the Centre, has an overriding effect over all other laws”.

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Tata AIA Life Starkid | TATA AIG Life Insurance

This is yet a new insurance policy from Tata AIG Life that has been planned specifically for the children. This one is a Child Endowment Policy that helps to complete the needs of the children.

Some of the key features of Tata AIG Life Starkid policy are as follows:

    In this very insurance policy the child is free to receive cash benefits, which is 20(%) percent of the total sum that has been secure under this policy. The benefits would be offered by the insurance company at the age of 18, 19, 20, 21 & 22.

    The amount of premium that is to be paid for keeping the policy in a healthy circumstance is very flexible and reasonable as well. The term for the payment of premium is yearly, quarterly, half-yearly and monthly. Therefore the insured is getting ample of choice to make the payment of the premium very simply.

    In this insurance policy the child doesn’t need to undergo during medical examination and for this reason there is no need to there any medical certificate for the child.

    The money-back guarantee feature is also available in this policy. This characteristic allows the insured to return the policy within 15 days of the receiving. After this the money after facing the deduction of nominal administrative charges, would be returned to the policy holder.

The Tata AIG Life Starkid policy offers ample benefits to the insured and some of them are as follows:

    The policy offers tax benefits to its policy holder. This way that the premium that has been paid for this policy is eligible for tax assumption as per the Indian Income Tax Act 1961.

The policy also features an inherent person paying benefit rider under which all the future premiums are waived off due to death or disability of the insured during the term of premium payment.

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Insurance

Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated.

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