Assam Chief Minister Himanta Biswa Sarma has announced a comprehensive insurance policy tailored for state government employees, designed to enhance their financial security and well-being. The policy, approved by the Assam Cabinet in a meeting, offers life and disability coverage with no additional cost burden on the employees.
Under this new scheme, state employees are entitled to Rs 10 lakh in life insurance coverage, a sum that significantly increases to Rs 1 crore in the unfortunate event of accidental death. Similarly, total disability will be covered with a substantial sum of Rs 1 crore, while partial disability will be addressed with Rs 80 lakh.
These insurance benefits are provided as an additional safeguard to the existing entitlements allocated to state employees, emphasizing the state government’s commitment to the welfare of its workforce. This initiative is part of Assam’s broader strategy to support its employees, ensuring their protection in instances of illness, death, or disability.
The state cabinet meeting on Wednesday decided to bring enhanced Insurance Coverage for State Government Employees. “To ensure financial stability of State Government employees and/or their family members in the unfortunate event of their death or disability, Cabinet has accorded approval to signing of an MoU with State Bank of India or any other Scheduled Commercial Bank having salary account of State Govt employees to provide zero-premium based insurance coverage,” the state notification stated.
Top highlights
1. State employees are entitled to Rs 10 lakh in life insurance coverage.
2. The insurance coverage will be over and above the regular benefits applicable to State Govt employees
3. In case of accidental death, the state will give Rs 1 crore; in case of permanent disability: 1 crore will be given; incase of partial disability: Rs 80 lakhs; in case of death in service due to any illness: Rs 10 lakhs.
4. Employees won’t need to pay any premiums as the state government is partnering with the State Bank of India or other scheduled commercial banks where the employees hold salary accounts.
5. Employees will not be required to pay any premiums as a result of the collaboration between the state government and the State Bank of India, or other scheduled commercial banks in which the employees maintain salary accounts.
6. Employees automatically qualify for the coverage as there is no need for a separate application.
7. The scheme applies to all state government employees and will be facilitated through their salary accounts in the designated banks.
Other announcements
1. The Assam government will offer pre-Durga Puja bonuses to employees and workers at ATCL tea gardens. The Cabinet has officially authorized the distribution of a 20% bonus to all eligible individuals. The approved budget for this bonus disbursement is Rs 78.13 crore, ensuring direct financial assistance to the qualified employees and workers.
2. To meet the specific requirements of the upcoming Tata Semiconductor Plant concerning hospitality and lodging for visiting dignitaries and business persons, the Cabinet has sanctioned the leasing of 6 acres of land from the former HPCL Nagaon Paper Mill premises on the north side of NH-37. This land will be leased to Indian Hotels Company Limited (IHCL) for a tenure of 60 years to establish a hotel. The leasing terms will align with the rates approved by the state government and are anticipated to stimulate the growth and progress of the region in the times ahead.
3. The Cabinet also approved the Assam Industrial and Investment Policy (Amendment) 2024 and amendment to The Assam Start-up Policy (Amendment), 2O18.
4. The Cabinet has granted approval for a Targeted Subsidy of Rs 200 crore to the Assam Power Distribution Company Ltd (APDCL) for the financial year 2024-2025. This subsidy aims to provide relief to electricity consumers falling under the Jeevan Dhara and Domestic-A categories. Approximately 5,96,400 consumers under the Jeevan Dhara category and 55,67,039 consumers under the Domestic-A category will benefit from this initiative. The approval of this subsidy will offer financial respite to the economically backward sections of the power consumer base.