India : Handloom weavers may get 3-fold hike in insurance cover

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Home / Knowledge / News / Textiles / Handloom weavers may get 3-fold hike in insurance cover

Handloom weavers may get 3-fold hike in insurance cover

01
Nov '16

Under a scheme by the textiles ministry, there may be a rise in the insurance cover of handloom weavers. The plan involves three-fold hike in insurance cover to Rs 2 lakh from Rs 60,000 in case of natural death. There is also a possibility of increase in the accidental death cover, which may be raised to Rs 4 lakh, from the present Rs 1.5 lakh.

Textile industry is India's second-largest employer after agriculture. Insurance cover to handloom weavers in case of natural and accidental death and total and partial disability is provided under the Mahatma Gandhi Bunkar Bima Yojana.

“We plan to increase the insurance cover for weavers in the handloom sector. This will encourage more weavers to get covered in the insurance net and attract more people to join the sector's workforce,” a senior official from the ministry told a news agency.

In the year 2015-16, under the insurance scheme, the government had released Rs 16.67 crore, which is slightly higher than Rs 16.39 crore—the sum was released when 5.74 lakh weavers were enrolled in the year 2014-15.

“We welcome the move. It will work as a great morale booster for the weavers. Weavers are the lifeline of textile industry. Out of 110 million people employed in the textile sector, more than 60 per cent are in handlooms,” Confederation of Indian Textile Industry secretary general Binoy Job told the agency. (RR)

Fibre2Fashion News Desk – India

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