Zee Media Bureau


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New Delhi: Finance Minister Arun Jaitley on Saturday presented the Union Budget 2015-16 in Parliament, and announced allocation of Rs 33,152 crore for the health sector.


Although the allocation for the health sector is slightly less as compared to last year's Budget, which was Rs 351.63 billion, the current Budget has brought some good news for the health insurance sector.


Increase in limit of tax deduction in health insurance premium will amend affordability, accessibility as well as help boost health insurance sales in the country.


Here's a list of criterion and initiatives announced by the Finance Minister in the healthcare sector:


- Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000 from present Rs 10,000


- Deduction limit of Rs 60,000 on account of serious diseases to be enhanced to Rs 80,000 for senior citizens


- New scheme of providing physical aids for senior citizens living below poverty line proposed


- Pradhan Mantri Jeevan Jyoti Yojana to cover accidental death at a premium of Rs 330 per year


- Soon to be launched Pradhan Mantri Suraksha Yojana to provide accident insurance of Rs 2 lakh on a premium of Rs 12 per year


- Plans to set up six AIIMS like institute in J&K, Punjab, Tamil Nadu, Himachal, Assam and Bihar