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New group insurance scheme for agri workers launched

In a major step to ensure social security for over 300 million agricultural workers, a new group insurance scheme was launched on Saturday to provide comprehensive benefits of life insurance, pension and disability benefits to them.

The Krishi Shramik Samajik Suraksha Yojana 2001 launched by Labour Ministry and Life Insurance Corporation of India will come into effect from Sunday, Labour Minister Satyanarain Jatiya told a press conference, addressed jointly by Finance Minister Yashwant Sinha.

Jatiya said the scheme would initially be launched in 50 blocks in as many districts across the country covering 20,000 agricultural labourers in each block.

Sinha said that in the first phase the scheme would cover landless labourers while marginal farmers would come under its purview subsequently.

Replying to questions the FM said the Centre would have to make a provision for Rs 1.50 billion for the scheme from the Social Security Scheme with a current corpus of Rs 5 billion, within the next three years.

Giving details of the scheme, Jatiya said all workers in the 18-50 age group could participate in the scheme, which intends to provide life-cum-accident insurance, money back and benefits on attaining the age of 60.

As per the scheme each worker will contribute Re one a day and the government's share will be Rs two, he said, adding that monthly pension ranged from Rs 100 to Rs 1900 while lumpsum payment to the family of the dead person ranged between Rs 13,000 and Rs 250,000.

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