Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹52.52 trillion (US$630 billion) as of March 2024. It is under the ownership of Government of India and administrative control of the Ministry of Finance.
Insurance in India covers both public and private sector organisations. It is listed in the Seventh Schedule of India's Constitution as a Union List subject, meaning it can only be legislated by the Central government.
IndusInd Bank Limited is an Indian banking and financial services company with its headquarters in Mumbai, Maharashtra. It was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh.
Agriculture Insurance Company of India Limited (AIC) is an Indian public sector undertaking headquartered in New Delhi. It is a government-owned agricultural insurer under ownership of the Ministry of Finance, Government of India.
Reliance General Insurance Company Limited is a private general insurance company and a subsidiary of Reliance Capital, part of the Reliance Anil Dhirubhai Ambani Group. Founded in 2000, it is headquartered in Mumbai, India. As of March 2023, the company operates through a distribution network comprising over 131 branches and more than 75,000 intermediaries.
Employees' State Insurance Corporation is one of the two main statutory social security bodies under the administrative control of Ministry of Labour and Employment, Government of India, the other being the Employees' Provident Fund Organisation. The fund is managed by the Employees' State Insurance Corporation (ESIC) according to rules and regulations stipulated in the ESI Act 1948.
Rashtriya Swasthya Bima Yojana is a government-run health insurance programme for the Indian poor. The scheme aims to provide health insurance coverage to the unrecognised sector workers belonging to the BPL category and their family members shall be beneficiaries under this scheme. It provides for cashless insurance for hospitalisation in public as well as private hospitals. The scheme started enrolling on April 1, 2008 and has been implemented in 25 states of India. A total of 36 million families have been enrolled as of February 2014. Initially, RSBY was a project under the Ministry of Labour and Employment. Now it has been transferred to Ministry of Health and Family Welfare from April 1, 2015
Agriculture in India is highly susceptible to risks like droughts and floods. It is necessary to protect the farmers from natural calamities and ensure their credit eligibility for the next season. For this purpose, the Government of India introduced many agricultural social insurances throughout the country, the most important one of them being Pradhan Mantri Fasal Bima Yojana.
Murugappa Group is an Indian conglomerate founded in 1900 by A. M. Murugappa Chettiar. The Group has 29 businesses including 10 companies listed on the NSE and the BSE. Headquartered in Chennai, the major companies of the Group include Carborundum Universal, Cholamandalam Financial Holdings, Cholamandalam Investment and Finance, Cholamandalam MS General Insurance, Coromandel International, EID Parry, Parry Agro Industries, Shanthi Gears, Tube Investments of India, Wendt (India), and CG Power and Industrial Solutions.
HDFC ERGO General Insurance Company Limited is an Indian insurance company. It is a joint venture firm between HDFC and ERGO International AG. It is one of the insurance entities of the Munich Re Group in Germany operating in the insurance field under the BFSI sector. The retail sector includes various products like health insurance, vehicle insurance, travel insurance, home insurance, personal accident insurance, and cyber insurance. The Corporate sector includes products like liability, marine, and property insurance. Rural sector products include rainfall index insurance, Pradhan Mantri Fasal Bima Yojana, and cattle insurance policy.
Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. It was originally mentioned in the 2015 Budget speech by Finance Minister Late Arun Jaitley in February 2015. It was formally launched by the Prime Minister Narendra Modi on 8 May in Kolkata.
Pradhan Mantri Jeevan Jyoti Bima Yojana is a Government-backed Life insurance scheme in India. It was originally mentioned in the year 2015 Budget speech by the then-Finance Minister, late Arun Jaitley in February 2015. It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata. As of May 2015, only 20% of India's population has any kind of insurance, this scheme aims to increase the number.
The Tamil Nadu State Apex Co-operative Bank, also known as TNSC Bank, is an Indian cooperative banking company headquartered in Chennai. It was incorporated in 1905 as an urban cooperative bank. As of 2015, TNSC Bank had 51 branches in Chennai. TNSC Bank coordinates India's entire short-term cooperative credit structure.
Pradhan Mantri Krishi Sinchai Yojana is a national mission to improve farm productivity and ensure better utilization of the resources in the country. The budget of ₹53 billion (US$640 million) in a time span of one year 2015-2016 has been allocated to this scheme. The decision was taken on 1 July 2015 at the meeting of Cabinet Committee on Economic Affairs, approved with an outlay of 50000 crore for period of 5 years.
The Pradhan Mantri fasal bima yojana (PMFBY) launched on 18 February 2016 by Prime Minister Narendra Modi is an insurance service for farmers for their yields. It was formulated in line with One Nation–One Scheme theme by replacing earlier two schemes Agricultural insurance in India#National Agriculture Insurance Scheme and Modified National Agricultural Insurance Scheme by incorporating their best features and removing their inherent drawbacks (shortcomings). It aims to reduce the premium burden on farmers and ensure early settlement of crop assurance claim for the full insured sum.
Vakrangee Limited is a technology company based in Mumbai, India that provides banking, insurance, e-governance, e-commerce, and logistics services. The company is one of the main providers of the software and equipment for voter ID cards and Aadhaar cards.
Biju Swasthya Kalyan Yojana is a universal health coverage scheme launched by Chief Minister of Odisha, Naveen Patnaik. The program extends coverage to approximately 70 lakh families, with the state government allocating a budget of 250 crore rupees. Services:
- Free health services are available in all state government health care facilities, starting from the subcenter level up to the district headquarter hospital level, with Swasthya Mitras deployed at help desk.
- Annual health coverage of Rs 5 lakhs per family and 7 lakhs per female members of the family.
The Twelfth Five Year plan for health services in India covering 2012-2017 was formulated based on the recommendation of a High Level Experts Group (HLEG) and other stakeholder consultations. The long-term objective of this strategy is to establish a system of Universal Health Coverage (UHC) in the country. Key points include:
- Substantial expansion and strengthening of public sector health care system, freeing the vulnerable population from dependence on high cost and often unreachable private sector health care system.
- Health sector expenditure by central government and state government, both plan and non-plan, will have to be substantially increased by the twelfth five-year plan. It was increased from 0.94 per cent of GDP in tenth plan to 1.04 per cent in eleventh plan. The provision of clean drinking water and sanitation as one of the principal factors in control of diseases is well established from the history of industrialized countries and it should have high priority in health related resource allocation. The expenditure on health should increased to 2.5 per cent of GDP by the end of Twelfth Five Year Plan.
- Financial and managerial system will be redesigned to ensure efficient utilization of available resources and achieve better health outcome. Coordinated delivery of services within and across sectors, delegation matched with accountability, fostering a spirit of innovation are some of the measures proposed.
- Increasing the cooperation between private and public sector health care providers to achieve health goals. This will include contracting in of services for gap filling, and various forms of effectively regulated and managed Public-Private Partnership, while also ensuring that there is no compromise in terms of standards of delivery and that the incentive structure does not undermine health care objectives.
- The present Rashtriya Swasthya Bima Yojana (RSBY) which provides cash less in-patient treatment through an insurance based system should be reformed to enable access to a continuum of comprehensive primary, secondary and tertiary care. In twelfth plan period entire Below Poverty Line (BPL) population will be covered through RSBY scheme. In planning health care structure for the future, it is desirable to move from a 'fee-for-service' mechanism, to address the issue of fragmentation of services that works to the detriment of preventive and primary care and also to reduce the scope of fraud and induced demand.
- In order to increase the availability of skilled human resources, a large expansion of medical schools, nursing colleges, and so on, is therefore necessary and public sector medical schools must play a major role in the process. Special effort will be made to expand medical education in states which are under-served. In addition, a massive effort will be made to recruit and train paramedical and community level health workers.
- The multiplicity of Central sector or Centrally Sponsored Schemes has constrained the flexibility of states to make need based plans or deploy their resources in the most efficient manner. The way forward is to focus on strengthening the pillars of the health system, so that it can prevent, detect and manage each of the unique challenges that different parts of the country face.
- A series of prescription drugs reforms, promotion of essential, generic medicine and making these universally available free of cost to all patients in public facilities as a part of the Essential Health Package will be a priority.
- Effective regulation in medical practice, public health, food and drugs is essential to safeguard people against risks and unethical practices. This is especially so given the information gaps in the health sector which make it difficult for individual to make reasoned choices.
- The health system in the Twelfth Plan will continue to have a mix of public and private service providers. The public sector health services need to be strengthened to deliver both public health related and clinical services. The public and private sectors also need to coordinate for the delivery of a continuum of care. A strong regulatory system would supervise the quality of services delivered. Standard treatment guidelines should form the basis of clinical care across public and private sectors, with the adequate monitoring by the regulatory bodies to improve the quality and control the cost of care,
The Department of Agriculture and Farmers' Welfare (DA&FW) is one of the three constituent department of Ministry of Agriculture and Farmers' Welfare, the other two being Department of Agriculture Research and Education (DARE) and Department of Animal Husbandry and Dairying. The Department is headed by Minister of Agriculture and Farmers' Welfare.
