This coverage stands at 1.6 times India’s per capita GDP as on March 31, 2011. The insurance premium is charged at a flat rate. It may be mentioned that the banking sector in India remained largely buffered from the recent global financial crisis and as such, post-global financial crisis, there is no change in the insurance coverage and the rate of premium. 11.
Short-term imbalances between supply and demand might also be a factor once the economy opens up again across all sectors. An example of this can be seen in the industrial sector, where a surprisingly brisk global recovery has caused bottlenecks in many areas that are now limiting production.