Insurance coverage

Rs 5 lakh free insurance cover for weavers from 7 August

HYDERABAD: The state government will extend free insurance cover of Rs 5 lakh to weavers from August 7. KT Rama Rao, Minister of Looms and Textiles, said on Monday that the “Nethanna Bima” scheme would be launched on National Looms Day to benefit 80,000 weavers at a cost of Rs 50 crore per year. He said Telangana was the first state to provide insurance coverage for weavers.

The state government has entered into a memorandum of understanding (MoU) with the Life Insurance Corporation of India (LIC) to extend insurance to weavers on the model of “Rythu Bima” for farmers, Rama Rao and added that the government would pay the premium every year.

He said weavers between the ages of 18 and 60 were eligible for the scheme. Under this scheme, Rs 5 lakh would be credited to the bank accounts of their candidates within 10 days upon the death of a weaver.

In the budget for 2022-2023, the government allocated Rs 55.12 crore to the loom sector and another Rs 400 crore was sanctioned under the social budget of weaker sections, Rama Rao said. .

As instructed by Chief Minister K. Chandrashekar Rao, the government was implementing Chenetha Mithra, Nethanna Ku Cheyutha (savings fund scheme), loan relief scheme, R&D and brand promotion programs , Bathukamma saree orders, weavers savings fund, 50 per cent subsidy on electricity utilities by weavers, seva loom centers, worker-owner scheme, market incentives and other programs in addition to the establishment of Sircilla Textile Park, Mini Textiles Park, Warangal, Sircilla Apparel Park and Handlooms Park, Gadwal, he added.