NewzVille Desk
Finance Minister Nirmala Sitharaman has said that health insurance is the priority of the government and it is working towards providing insurance coverage for all by 2033. Replying in the Rajya Sabha during the question hours, the Finance Minister said a major rural outreach plan has been undertaken in which 25,000 gram panchayats will be covered for health insurance across the country.
Sitharaman further added that the government considers health insurance a priority area and is taking multiple policy steps to expand access, especially in rural India. She said the Insurance Regulatory and Development Authority of India (IRDAI) has notified rules in 2024 under which the gram panchayat will be treated as the basic unit for measuring insurance coverage and rural obligations.
Highlighting India’s low insurance penetration compared to global levels, Sitharaman said the country’s per capita insurance premium stands at just 97 dollars, including health insurance, against a global average of 943 dollars. On the health insurance front, the minister said the market is expanding rapidly, with the sector recording 1,17,505 crore rupees in 2024-25 and 58 crore lives covered under various insurance schemes.
She added that both public and private insurers, along with government-backed insurance companies, are contributing to the expansion of coverage. Mrs Sitharaman also stressed that the government has focused on keeping premium rates affordable, especially for the poor and vulnerable sections.
Referring to social security schemes, she said the Pradhan Mantri Jeevan Jyoti Bima Yojana offers life insurance cover of 2 lakh rupees for an annual premium of 436 rupees, making it accessible to low-income households. She said the scheme has seen massive uptake, with 26.79 crore cumulative enrolments so far, reflecting the government’s push to ensure broader financial and social protection.
