The Telangana Government will launch ‘Nethanna Beema’, an insurance scheme for weavers on August 7, marking the National Handloom Day.
The State Government has signed an agreement with the Life Insurance Corporation of India to roll out the scheme to benefit over 80,000 weavers, where the Government would remit the premium annually.
Weavers below the age of 60 years are eligible for the scheme.
The scheme, which is modelled after Rythu Beema (an insurance scheme for farmers), will offer a cover of ₹5 lakh for the kin of families from the weaver community that losses a bread winner.
The Government has allocated ₹50 crore for this scheme and has already released ₹25 crore.
“The sum assured will directly be credited to the kin’s bank account within 10 days after the death of the weaver,” Telangana IT and Industries Minister KT Rama Rao said.
The State Department of Handlooms and Textiles will be the nodal agency for implementation of this scheme.
The Government will set up State level and district committees to ensure smooth implementation of the scheme.