The Hindu Business Line : ESIC accumulates reserve fund of Rs 15,000 cr

Kolkata, Aug. 14 The Empoyees’ State Insurance Corporation (ESIC) has accumulated a reserve fund to the tune of Rs 15,000 crore, said Mr T.K. Bhattacharya, Additional Commissioner and Regional Director, ESIC, here at an interactive session organised by the Bharat Chamber of Commerce.

The surplus, accumulated over the years is expected to be spent in phases, he said, in development of 20 new ESIC hospitals and medical colleges and in upgradation of the medical facilities in existing hospitals. “We are a no-profit organisation and the entire surplus will be spent in phases,” he said.

The total earnings of ESIC last year were Rs 4,000 crore, Mr Bhattacharya said, of which its expenses on medical proceedings to beneficiaries and other capital expenditures amounted to Rs 2,400 crore. This fiscal, the corporation is expecting to earn Rs 3,600 crore.

Nearly Rs 6,000 crore would be invested in the next one year on developing new hospitals and medical colleges and over Rs 140 crore on upgradation of existing hospitals, he added.

In West Bengal, the ESIC earned Rs 200 crore last year, of which Rs 122 crore was spent. It would shortly launch a course for eye technicians at the ESIC hospital in Kamarhati, a course on Oncology in Sealdah, and one on dialysis in Maniktala, he pointed out.

The number of workers covered under ESIC schemes has increased to over one crore, up from 90 lakh last year, Mr Bhattacharya said. In West Bengal, the number of beneficiaries had increased by 1.4 lakh to 6,75,912 over the same period, he added.

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