Allocation for the Health Ministry in 2016-17 stood at over Rs 38,000 crore.
The scheme will provide health cover up to Rs 1 lakh per family, Mr Jaitley said.
Two obstacles to formal sector jobs creation are regulation-induced taxes.
The industry body asserted that 5/20 rule is not protectionist.
Around Rs 10,000 cr would be utilized for providing the cover, sources said.
The study, done by Auctus Advisors, was released at a PHD Chamber event.
Airlines demanded a level-playing field along with foreign and new carriers.
January also marked the 7th straight month of expansion in new business.
"People will only start manufacturing in India if it is the cheapest," an official said.
PM Modi has now proposed to hike social budgets twice since imposing cuts in February.