Haryana Launches Insurance Schemes for Small Traders

Published: September 12, 2019

The Chief Minister of Haryana Manohar Lal Khattar launched two insurance schemes for registered small and medium traders in the State. The two schemes launched were Mukhyamantri Vyapari Samuhik Niji Durghatna Beema Yojana and Mukhyamantri Vyapari Kshatipurti Beema Yojana.

About the Schemes

  • An insurance cover of Rs 5 lakh would be provided under the Mukhyamantri Vyapari Samuhik Niji Durghatna Beema Yojana and insurance cover ranging from Rs 5 lakh to Rs 25 lakh under the Mukhyamantri Vyapari Kshatipurti Beema Yojana.
  • Traders who have registered under the Haryana Goods and Service Tax (HGST) Act, 2017 would be covered under these schemes.
  • The premium burden of Rs 38 crore of both the insurance schemes would be paid by the State Government.
Mukhyamantri Vyapari Samuhik Niji Durghatna Beema Yojana

About 3.75 lakh registered traders would be provided with an insurance cover of Rs 5 lakh under the Mukhyamantri Vyapari Samuhik Niji Durghatna Beema Yojana. The benefit of insurance would be admissible in case of accidental death, permanent disability and damage to two body organs, or eyes or one organ or one eye.

Mukhyamantri Vyapari Kshatipurti Beema Yojana

Under the Mukhyamantri Vyapari Kshatipurti Beema Yojana under which insurance benefits ranging from Rs 5 lakh to Rs 25 lakh would be provided to the traders on the basis of their turnover to compensate the loss of their stock caused due to fire, theft, flood and earthquake and damage to furniture and other goods.

The coverage is as highlighted below:

  • Insurance cover of Rs 5 lakh would be provided to the traders having an annual turnover of up to Rs 20 lakh,
  • Rs 10 lakh in case of annual turnover between Rs 20 lakh to Rs 50 lakh,
  • Rs 15 lakh for turnover between Rs 50 to Rs one crore,
  • Rs 20 lakh for turnover between Rs 1 crore to Rs 1.5 crore and
  • Rs 25 lakh for traders having a turnover of over Rs 1.50 crore.

About 3.13 lakh registered small and medium firms would be befitted under this scheme.

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