On Sunday, marking National Handloom Day, the Telangana government introduced "Nethanna Bima," a life insurance scheme for power and handloom weavers.
Telangana Chief Minister K Chandrashekar Rao said the State government launched the scheme and sent greetings to the community of weavers on the occasion of National Handloom Day.
According to an official announcement, Rao, Chief Minister KCR, described the scheme as a first for weavers in the nation and said it will benefit close to 80,000 weavers' families.
Under the scheme, Rs 5 lakh would be deposited in the nominees' account in case of unfortunate death of an eligible beneficiary (weaver), it said.
According to KCR, the State government is already carrying out a number of schemes for weavers, and the implementation of the new scheme demonstrates the government's dedication to citizens' wellbeing.
According to the statement, KCR claimed that rather than helping the State government in its efforts to improve the lives of weavers, the Union government was not supporting the handloom and power loom sectors by raising taxes.
In order to operate the scheme, the State government has an agreement with Life Insurance Corporation (LIC).
He further stated that the weavers will not be required to pay any money to LIC because the Telangana government will be paying the premium amount on their behalf. The nodal organization for the implementation of this program will be Telangana's department of handlooms and textiles.
State and district level committees will soon be constituted for the scheme's proper execution, according to KTR.
A review meeting for the Neethana Beema scheme and its launch was also held by KTR. The officials told the minister that they were spreading information about the scheme among the weavers.
