Effective June 1, the government merged two insurance schemes for fishermen to reduce premium burdens and ease implementation problems.
The premium for fishermen under the new integrated scheme for FY25 has been fixed at Rs 80 per person, which is 12 per cent lower than the previous premium.
Effective June 1, the central government merged two insurance schemes for fishermen to reduce premium burden and ease implementation problems.
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Officials said the insurance coverage under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the Group Accident Insurance Scheme (GAIS) has been revised to provide a comprehensive insurance cover of Rs 50 lakh to fishermen (Rs 30 lakh under GAIS and Rs 20 lakh under PMSBY against death or permanent total disability due to accident).
According to sources, compensation of Rs 20 lakh was provided under PMSBY and Rs 50 lakh under GAIS so far.
The new scheme is fully subsidised and fishermen will not have to pay any premium. The entire premium amount will be paid by the central and state governments to the insurance companies, officials said.
Approximately 3.2 million fishermen are covered by this insurance scheme.
A few months ago, the National Federation of Fisheries Cooperative Societies (FISHCOPFED) wrote to the Ministry of Fisheries, Animal Husbandry and Dairying, alleging that they have been hit hard by the abolition of the accident insurance scheme for fishermen.
The letter claims that FISHCOPFED gets a benefit of Rs 2 for each fisherman who joins the scheme, which is the main source of income for the cooperative.
Since outsourcing the operation of the scheme to another company, FISHCOPFED’s revenue stream has dried up.
Monsoon expected to pick up steam in the north over the next few days
The Southwest Monsoon is expected to enter its active phase in the coming days and will cover most parts of India by the end of the month or early July. A significant increase in rainfall is expected over North India, including the capital city Delhi, from June 28 to 30. This will eliminate much of the deficit and provide relief from the scorching heat. As per the forecast, rains are very likely over the Western Peninsula coast over the next 3-4 days and over Northeast India from June 27 to 30.