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News - National Level
LAUNCHING OF AAM AADMI BIMA YOJANA (AABY)
COVERING DEATH AND DISABILITY INSURANCE FOR THE BENEFIT OF RURAL
LANDLESS HOUSEHOLDS IN THE COUNTRY
The Union
Cabinet today gave its approval for launching of Aam Aadmi Bima Yojana
(AABY), from 2nd October 2007, covering the death and
permanent disability for the benefit of rural landless households as
detailed below:
(i) The scheme provides for insurance of head of the
family or an earning member of the family of rural landless household
between the age of 18 to 59 years against natural death as well as
accidental death and partial/permanent disability. The annual
premium payable per member is Rs.200, of which 50% shall be paid by the
Central Government and the remaining 50% by the State
Government. The main features and benefits of the AABY Scheme in
nutshell are as under:
FEATURES:
|
Eligibility
|
Rural Landless
Households
|
|
Age Group
|
18-59 years
|
|
Premium
|
Rs.200/- per member. 50% by
Central Government and remaining 50% by State Government
|
|
Nodal Agency
|
State Government
|
BENEFITS:
|
Natural Death
|
Rs.30,000/-
|
|
Accidental Death
|
Rs.75,000/-
|
|
Total permanent disability
|
Rs.75,000/- (loss of two eyes or two
limbs or loss of one eye and one limb in accident)
|
|
Partial permanent disability
|
Rs.37,500/- (loss of one eye or one
limb in an accident)
|
|
Scholarships
|
Two children of the beneficiaries
studying in 9th to 12th Standard will get
Rs.300/- per quarter per child
|
(ii)
Creation of a fund of Rs.1000 crore to be
operated by LIC for meeting the liability of Central Government towards
its share of premium payment. As per the National Sample Survey,
the number of rural landless households in the country is 1.5
crore. It is expected that in the first year approx. 70 to 80 lakh
of rural landless households would be covered under the scheme
requiring an expenditure of Rs.70-80 cr by the Central Government
towards its share of 50% premium. With a 8% per annum return
expected on the Rs.1000 crore fund, the amount would be sufficient to
meet the liability of premium payment.
(iii) A separate Rs.500 crore fund will be created for
the purpose of providing scholarships to children of
beneficiaries. This will make available Rs.40 crore for the full
year at 8% per annum return. This amount would suffice for the
coverage of 3,33,000 children of the beneficiaries.
This
Scheme would extend the benefit of life insurance coverage as well as
coverage of partial and permanent disability to the head of the family
or an earning member of the family of rural landless households in the
States and also educational assistance to their children studying from
9th to 12th standard as an extended
benefit.
Package for suicide prone
district of AP, Maharashtra, Karnataka & Kerala
Cabinet
Committee on Economic Affairs gave its approval to the modifications to
the Special Package for Livestock and Fisheries in the 31 identified
suicide-prone districts suggested by the beneficiary States as
follows:
Andhra Pradesh:
- The average estimated cost for estrus synchronization envisaged in the component relating to the breeding services will be Rs.650 per animal against an amount of Rs.500 per animal provided for the same in the special package. The additional amount required would be allowed to be met from the amount made available for artificial insemination, which requires only Rs.300 per animal against an amount of Rs.450 per animal provided for the same. Overall, there is no additional financial implication.
- In place of 10 fodder block making units involving a financial outlay of Rs.4.26 crore over three years approved for Andhra Pradesh, permission is granted for establishing two fodder block making units at a cost of Rs.85 lakh. The remaining funds of Rs.3.41 crore will be utilized for establishing 100 mini feed mixing plants at a cost of Rs. 6.5 lakh per unit approx. providing a subsidy of 50% to the beneficiary. There is no additional financial implication.
Maharashtra:
- Induction of cattle in excess of 1000 per district per year by utilizing savings achieved due to availability of 25% subsidy under the CM’s Relief Package implemented in the State.
- Provision of feed concentrate as an option for fodder blocks, as the practice of feeding fodder blocks to the milch animals is not common in the state. The farmers prefer concentrate feed readily available in the market. The amount available as subsidy for the component will be deposited quarterly with the Self Help Group who would be free to purchase the concentrate feed readily available in the market as per the choice of beneficiaries. There is no additional financial implication.
Karnataka:
- As a substitute for estrus synchronization mineral mixture, de-worming, urea molasses block will be permitted so as to bring animals into fertile heat. There is no additional financial implication.
Kerala:
- Utilizing the savings from providing artificial insemination (AI) coverage for supply of mineral mixture and kits for detection, prevention and control of mastitis. The savings have been achieved by exercising economy in the implementation of the AI coverage.
These
modifications will lead to effective implementation of the Special
Package.
