Modi launches world's biggest health insurance ahead of elections: report

The scheme dubbed as "Modicare" after Prime Minister Narendra Modi promised health cover worth 500,000 rupees ($6,900) to every poor family to treat serious ailments.

On Sunday, Modi handed medical cards out at the launch in Ranchi, calling it a "historic day" for the country, claiming that a government scheme at such a grand scale is not being carried out anywhere in the world.

Meanwhile, the  critics say the scheme has been launched  for political gain in a hurry and lacks adequate funds to support it.

According to media report, India spends only about 1 percent of its GDP on public health, that faces a shortage of hospitals and doctors, among the world’s lowest, and the health ministry estimates such funding leads to “catastrophic” expenses that push 7 percent of the population into poverty each year.

“This is the world’s biggest healthcare scheme, benefiting more than the combined population of the United States, Canada and Mexico,” Modi said after launching the nation-wide plan from Ranchi, the capital of the eastern state of Jharkhand.