India Aims for Universal Health Insurance Coverage by 2033, Sector Expands to 58 Crore Lives

Finance Minister Nirmala Sitharaman stated in the Rajya Sabha that health insurance is a government priority, aiming for universal coverage by 2033. The sector covered 58 crore lives in 2024-25, with a market size of Rs 1,17,505 crore, supported by public, private, and standalone insurers. The government is promoting reforms, including increased FDI limits and IRDAI rules for rural areas, to enhance penetration amid low per capita premiums compared to global averages.