'Aam Aadmi Bima Yojana' for rural landless people

New Delhi, Feb 28: The Government will extend death and disabilityinsurance cover through LIC to the rural landless househols under a newscheme "Aam Aadmi Bima Yojana" .

Finance Minister P Chidambaram announced this in his Budget 2007-08 presented in the Lok Sabha today.

The head of the family or one earning member in the family will beinsured under the new scheme which will cover landless households.

The Central Government will bear 50 per cent of the permimum of Rs200 per year per person. He also urged the State Governments to comeforward to bear the rests of 50 per cent on behalf of thebeneficiaries. Taking into account the annual cost to the CentralGovernment, the Finance Minister placed Rs 1000 crore in a fund to bemaintained by LIC. He further proposed to finalise the scheme inconsultation with State Governments and implement it in 2007-08.

UNI

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