Sabka Bima Sabki Raksha Bill, 2025
The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 marks a significant reform initiative aimed at expanding insurance coverage and modernising India’s insurance regulatory framework. Tabled in Parliament, the Bill aligns sectoral liberalisation with India’s long-term vision of achieving universal insurance access by 2047, while addressing structural weaknesses that have constrained insurance penetration.
India’s insurance penetration remains low at 3.7% of GDP in FY24, with a skewed product mix dominated by life insurance (2.8%) and weak non-life coverage (0.9%). This imbalance exposes households, farmers, and business
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