Which five-year plan did the Government introduce Insurance Regulatory Authority in India? 

Key Points The Insurance Regulatory and Development Authority (IRDA) was formally established in 1999 under the IRDA Act, 1999.
This falls under the period of the Ninth Five-Year Plan (1997–2002).
IRDA was set up to regulate and promote the insurance industry in India.
The primary objective of IRDA was to protect policyholders, ensure financial stability, and encourage market competition in the insurance sector.
Important Points Formal Establishment:
The IRDA Act was passed in 1999, and the authority was formally established the same year.
Ninth Five-Year Plan (1997-2002):
This plan focused on economic liberalization, financial sector reforms, and infrastructure development.
IRDA’s formation was part of India's financial sector reforms, aimed at opening the insurance market to private players.
Objectives of IRDA:
Regulate and promote both life and non-life insurance in India.
Ensure fair competition by allowing private insurers alongside LIC and GIC.
Protect policyholders' interests by enforcing transparency, efficiency, and ethical business practices.
Additional Information Seventh Five-Year Plan (1985-1990):
This period focused on economic growth and self-reliance, but IRDA was not established during this time.
Tenth Five-Year Plan (2002-2007):
IRDA was already operational by 1999, and further reforms were introduced in the insurance sector during this period.
Eleventh Five-Year Plan (2007-2012):
The focus was on inclusive growth, and IRDA continued its role, but it was not introduced during this period.
Post-1999 Developments:
In 2000, private insurance companies were allowed to enter the market.
Foreign Direct Investment (FDI) in the insurance sector was gradually increased, rising from 26% to 49% in 2015 and later to 74% in 2021.