India unveils ‘Modicare’ health insurance service

India yesterday launched the world’s biggest health insurance scheme, which Narendra Modi, the prime minister, said would cover some 500million poor people.

The programme, dubbed “Modicare”, promises health cover worth 500,000 rupees (£5,300) to every poor family to treat serious ailments.

The scheme is expected to cost the central and 29 state governments $1.6billion (£1.2 billion) per year in total. Funding will be increased gradually according to demand.