RAS question
Which of the following correctly describes the 'Insurance for All by 2047' initiative in the context of Alwar (Rajasthan) becoming India's first fully insured district?
Correct answer: (B) It is a joint initiative of the Government of India and IRDAI under the Ministry of Finance, aimed at universal insurance coverage by India's centenary of Independence..
Insurance for All by 2047 is a Government of India-IRDAI initiative under the Ministry of Finance aimed at universal life, health and property insurance coverage by the centenary of India's Independence.
Explanation
Insurance for All by 2047 is not a Rajasthan-only welfare scheme; it is the national insurance-inclusion roadmap linked to the Government of India and IRDAI under the Ministry of Finance. Its benchmark is universal insurance cover by 2047, the centenary year of Independence, across life, health and property risks. Alwar matters because it became the first district to report 100% coverage: 1,367 previously uninsured people above age 10, spread across nine villages, were identified through door-to-door surveys and brought under insurance. The premiums were funded by an NGO, and the policies were issued by the government-owned United India Insurance Company Ltd. The initiative combines central institutional ownership with a universal-coverage objective.
Why the other options are wrong
- (A) The initiative is a central roadmap involving the Government of India and IRDAI, not a scheme run solely by Rajasthan's Department of Finance.
- (C) There is no UN role or National Health Authority implementation, and the coverage is not limited to health insurance.
- (D) The scheme is neither World Bank-funded nor restricted to BPL families, and its coverage spans life, health and property insurance.
Concept
Government schemes and financial inclusion in the Rajasthan economy often connect national policy goals with district-level administrative achievements. The Alwar example links insurance regulation, inclusive growth and Rajasthan current affairs.