Hyderabad: Telangana government will extend insurance coverage to handloom and power loom weavers under 'Nethanna Ku Bima' scheme from August 7 on the occasion of National Handlooms Day.
The government will pay the required premium for this insurance. Under the scheme, if beneficiary weavers die due to any ailment or untoward incidents during the insurance period. In that case, Rs 5 lakh will be given to their family or nominee. This amount will be deposited in the deceased's account within 10 days of the death, ABP Desam reports.
Telangana Minister KT Rama Rao has given the details of this scheme. The handloom and textile department will be the nodal agency for implementing the scheme. Telangana government has entered into an agreement with LIC for Nethanna Ku Bima Scheme. Beneficiaries or workers do not have to pay a single paisa for the premium paid once a year.
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KTR said in a statement on Monday that Rs 50 crores have been allocated for this scheme, and Rs 25 crores have already been released.
Nearly 80,000 handloom, power loom, and ancillary weavers in the state will profit from the introduction of the insurance coverage scheme. The insurance would cover weavers in the age range of 18 to 59.
Minister KTR explained in the statement that we are allocating Rs 1200 crores every year from 2016-2017 to the handloom and textile sector. The minister revealed that this insurance amount is added to the regular budget of the handloom and textile department.
(With inputs from ABP Desam — It is a Telugu platform of ABP News. For more news, commentary and latest happenings from two Telugu states, follow https://telugu.abplive.com//amp)