Only 27% of Indians have health insurance coverage, a joint report by FICCI and KPMG. The report titled "Health savings account in India" was revealed on Monday.
The report revealed that the healthcare sector in India is largely under-penetrated with government expenditure constituting approximately 1.4% of the country's GDP.
On the other hand, private sector expenditure constitutes 70% of the total healthcare expenditure out of which 62% is out of pocket while only 8% is covered through pre-financed instruments, as per World Bank Data.
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