India’s new health insurance to cost govts $1.71 billion a year

Fri Feb 02 2018
Rajesh Sharma (2070 articles)
India’s new health insurance to cost govts $1.71 billion a year

 Prime Minister Narendra Modi’s ambitious plan to provide health insurance to 100 million poor families would require 110 billion rupees ($ 1.71 billion) in federal and state funding each year, a government official told Reuters.

The National Health Protection Scheme, dubbed “Modicare” and announced in Thursday’s budget, would provide 100 million families, or about 500 million poor people, with a health cover of 500,000 rupees ($ 7,850) for free treatment of serious ailments.

The government has estimated the premium for insuring each family would be about 1,100 rupees ($ 17.15), said the government official with direct knowledge of the matter.

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.