The Telangana government on Sunday launched ‘Nethanna Bima,’ a life insurance scheme for handloom and power loom weavers, marking National Handloom Day.
Telangana Chief Minister K Chandrashekar Rao said the State government introduced the scheme on the occasion of National Handloom Day and extended greetings to the weaver's community.
Chief Minister KCR, as Rao is also known as, said it is a first-of-its-kind scheme for weavers in the country and nearly 80,000 weavers' families would benefit from the scheme, an official release said.
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.
The State government is already implementing a slew of schemes for the weavers, KCR said adding that the introduction of the new scheme is a testimony to the government's commitment to people's welfare.
KCR accused the Union government of not supporting the State government striving for the welfare of weavers, instead, it was wrecking the handloom and power loom sectors by enhancing taxes, the release added.
The State government has entered into an agreement with Life Insurance Corporation (LIC) for implementing the scheme.