National Social Security Fund for unorganized sector workers set up

The Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget 2010-11, in the Lok Sabha today, has announced three major initiatives for the unorganized sector.

The National Social Security Fund for unorganized sector workers is to be set up with an initial allocation of Rs. 1000 crore. This fund will support schemes for weavers, toddy tappers, rickshaw pullers, bidi workers etc.

The Finance Minister has stated in his speech that this has been done recognizing the need for providing social security to the workers in the unorganized sector, and as a follow up to the unorganized Sector Workers Social Security Act,2008.

The Finance Minister has also announced that the benefits of the Rashtriya Swasthya Bima Yojana (RSBY) will now be extended to all such Mahatma Gandhi NREGA beneficiaries who have worked for more than 15 days during the preceding financial year. The scheme provides health insurance cover to BPL workers and their families, and so far more than one crore smart cards have been issued under this scheme.

Source : Equity Bulls

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