Jammu, Dec 15 (UNI) The Jammu and Kashmir Cabinet here has approved the implementation of the Aam Admi Bima Yojna (AABY) -- a social security scheme -- aimed at providing death and disability insurance cover to rural landless households.
The Cabinet meeting, which was held under the chairmanship of Chief Minister Ghulam Nabi Azad last evening approved the AABY, the Centrally-sponsored scheme introduced by the Union Finance Minister in Parliament during the budget session 2007-08.
The AABY envisages an insurance plan with a premium of Rs 200 per year to each person in the age group of 18-59 years.
Under the policy, LIC will pay Rs 30,000 for natural death, Rs 75,000 for accidental death, Rs 75,000 for permanent disability and Rs 37,500 for partial permanent disability.
An amount of Rs 51 lakh is estimated to be expended by the state government under the scheme on premium per annum as its 50 per cent share while the central government would bear the remaining half.
Landless households in Jammu and Kashmir have been estimated at 3.29 per cent of the total households.
The Cabinet approved functioning of winter secretariat at Srinagar, where Ministers will function by rotation during the winter months to oversee working of the departments and attend to public grievances.
The State Cabinet also accorded sanction for establishment of two sub-treasuries one each at district court complex Srinagar and Jammu.