Government on Thursday said it is working on a scheme to provide health insurance to the poor, besides offering life and disability cover to one earning member of each economically weaker family.
Prime Minister Manmohan Singh said these measures along with old age pension to all citizens above 65 years and living below the poverty line would help the poor cope up with distressed times.
“Through these initiatives, we intend to ensure a minimum level of social safety for all of them (poor families),” Singh said after giving away national awards for micro, small and medium enterprises, instituted by the government.
He said the health insurance model would help the poor bear the high cost of medical care while the life and disability cover would enable them to “get over the consequences of injury or death”.
Underscoring the role of small and medium enterprises (SMEs) in providing employment to over 60 million people, the Prime Minister said the government intends to fund polytechnics and Industrial Training Institutes (ITIs) to address the demand of skilled manpower.
He said the government hopes to double the credit flow to the SME sector within five years.
The Prime Minister asked the banks and financial institutions to support these enterprises, especially through risk and venture capital.
The government has already set up a Credit Guarantee Fund to provide relief to the small units who are unable to pledge collateral securities.