Budget 2018: Narendra Modi's ambitious health insurance plan will require Rs 11,000 cr in funding each year

New Delhi: Prime Minister Narendra Modi’s ambitious plan to provide health insurance to 10 crore poor families would require Rs 11,000 crore ($1.71 billion) in federal and state funding each year, a government official told Reuters. [caption id=“attachment_4332155” align=“alignleft” width=“380”] A file image of PM Narendra Modi.[/caption] The National Health Protection Scheme, dubbed “Modicare” and announced in Thursday’s budget , would provide 10 crore families, or about 50 crore poor people, with a health cover of Rs 5 lakh ($7,850) for free treatment of serious ailments. The government has estimated the premium for insuring each family would be about Rs 1,100 ($17.15), said the government official with direct knowledge of the matter. Click here for full coverage of Union Budget 2018.