India launches health insurance

India on Sunday launched the world’s biggest health insurance scheme which Prime Minister Narendra Modi said would cover some 500 million poor people.

The programme, dubbed “Modicare”, promises health cover worth 500,000 rupees (R99,000) to every poor family to treat serious ailments.

The scheme is expected to cost the central and 29 state governments $1.6bn (R23bn) per year in total. Funding will be increased gradually according to demand.