Regarding the merger of government insurance schemes for fisherfolk, consider these statements:
1. The merged scheme will be completely unsubsidized by the government.
2. Pradhan Mantri Suraksha Bima Yojana initially offered ₹2 lakh coverage for accidental death.
3. The comprehensive coverage under the merged scheme amounts to ₹5 lakh.
Which of the statements above is/are correct?
Statement 1 is incorrect; the scheme is fully subsidized. Statements 2 and 3 are correct. • Government will merge Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Group Accident Insurance Scheme (GAIS) for fisherfolk from June 1. • The merger aims to reduce premium burden and ease implementation. • Provides ₹5 lakh comprehensive insurance coverage: ₹3 lakh under GAIS for accidental death or permanent total disability and ₹2 lakh under PMSBY. • Previously, PMSBY offered ₹2 lakh coverage, and GAIS provided ₹5 lakh. • Fully subsidized scheme, with no premium required from fisherfolk, entirely borne by the government. Learn Along: About Pradhan Mantri Suraksha Bima Yojana • Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. • It was originally mentioned in the 2015 Budget speech by Finance Minister Late Arun Jaitley in February 2015. • It was formally launched by the Prime Minister Narendra Modi on 8 May 2015 in Kolkata. About Group Accident Insurance Scheme • In 2020-21 under PMMSY, Government brought in Group Accident Insurance Scheme (GAIS) as a beneficiary oriented centrally sponsored scheme to offer insurance to fishers including fishermen, fisherwomen, fish workers, fish farmers, and others directly involved in fishing and fisheries-related allied activities within the age group of 18 to 70 years. • GAIS offers insurance coverage of Rs. 5.00 lakh against accidental death or Permanent Total Disability (PTD), Rs. 2.50 lakh against Permanent Partial Disability (PPD), and Rs. 25,000 against accidental hospitalization. • No beneficiary contribution is required as the premium is fully funded by the Central and respective State/UT Governments.
Recently CCEA has approved the sale of 29.5% of the government's stake in which public sector company?
Reserve Bank of India has imposed a penalty of ______ on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other defic...
Yunqing Tang has won the SASTRA Ramanujan Prize for 2022. Yunqing belongs to which country?
How many Gold Medals were won by India in Birmingham Commonwealth games 2022?
Recently Langya henipavirus or LayV virus has been found in which country?
How many languages appear in Indian currency notes?
IndusInd Bank has announced a strategic partnership with _______ to support and promote Supply Chain Finance (SCF) solutions in India?
India's largest reclining statue of Lord Buddha is being built in Bodh Gaya. It is built by ________________________.
The Reserve Bank of India (RBI) has asked banks and financial institutions to adopt by _______ a widely accepted Alternative Reference Rate, such as the...
Who won the presidential election in Paraguay in 2023?