Nethanna Bima, Life insurance scheme for weavers launched
Polity & Governance
19th Aug, 2022
The Telangana government recently launched ‘Nethanna Bima,’ a life insurance scheme for handloom and power loom weavers, marking National Handloom Day.
About the Scheme:
- ‘Nethanna Bima’, a first-of-its-kind scheme in the country. It would extend life insurance coverage to handloom and powerloom weavers.
- The scheme provides economic assurance to handloom and power loom weaver families.
- The insurance coverage scheme would benefit more than 80,000 weavers across the State.
- Under the scheme, Rs 5 lakh would be deposited in the nominees' account in case of unfortunate death of an eligible beneficiary (weaver).
- The State government has entered into an agreement with Life Insurance Corporation (LIC) for implementing the scheme.
- The scheme is implemented by the LIC, while the annual premium amount of the beneficiaries will be paid by the government on their behalf to the insurance company.
About National Handloom Day
- Ministry: The National Handloom Day is celebrated across the country under the aegis of the Ministry of Textiles.
- Largest economic sectors: The handloom sector is one of the largest economic sectors in the country.
- Swadeshi Movement: The handloom sector played an important role during the Swadeshi Movement, which was launched as part of the Indian independence movement, on August 7, 1905.
- Boost Domestic production: The movement was started to curb dependency on foreign goods and to boost domestic production.
- Khadi: The movement started production of khadi in almost every household.
When at the stroke of the midnight hour India got independence, Pandit Jawaharlal Nehru unfurled the Indian flag made of khadi at Princess Park near India Gate.