Tuesday, April 22, 2008

Privatized insurance: Indian healthcare to follow US mess?

The following article in Mint by C.H. Unnikrishnan is an indicator of Indian private insurers eager to get a piece of the virtually non-existent rural insurance market. The Indian financial services sector is booming and if experts are to be believed it is about 100 bn and poised to expand due to the depth in Indian market.

The trend although is expected and in-line with the fiscal policies adopted by India, it is also a matter of concern if the scenario in US is to be considered. The deplorable conditions of insurance in the US leave the common citizen at a loss and out of the health care loop. Micheal Moore's documentary Sicko is a fair indicator of the way things work in the capital market promoted unbridled health care and Insurance business.

Although state promoted general insurance is welcome for those who have been largely ignored by the opportunities in the market, there is a need to focus on the basic infrastructure and facilities for the masses. The state of medical facilities in India's rural areas, teeming with conditions which most of us take for granted, is at the very least pathetic.

I sincerely hope the the policy makers take full cognizance of he fact that they need to protect the masses and provide basic facilities to the people rather than toe the line and expand the so called 'market opportunities' for big businesses.

Article link:

Private insurers rush for a piece of rural pie


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