Labour Ministry Proposes Social Security System For 50 Crore Workers

Written By: Archana L
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    A month after the government of India announced National Health Protection Scheme in the Budget 2018, the Labour Ministry has proposed a social security system to provide retirement, health, old-age, disability, unemployment and maternity benefits to around 50 crore workers in the country.

    Labour Ministry Proposes Social Security System For 50 Crore Workers

    It plans to implement the scheme in three phases over a period of 10 years, after which the government intends to make it universal. The project will be implemented in four tiers. The government will be financing the cost for the people who come under below the poverty line.

    The first phase of project implementation will see all the workers getting health security and retirement benefits. The second one will see unemployment benefits being included in it and the third one, other welfare measures will be included.

    "Its implementation would be regulated and monitored by an overarching regulatory body called the National Social Security Council to be chaired by the prime minister with the finance minister, health minister and chief ministers of all states along with workers and employers as its members," the official said.

    The first tier will include people who are below poverty line and the destitute one's who cannot contribute to their security and hence the government of India will bear the cost under tax-based schemes.

    The second tier will include people who are workers in the unorganized sector, self-sufficient with some contribution power.

    The third tier will have people who either by themselves or jointly with their employers can adequately contribute to the schemes.

    The fourth tier will include affluent people who have the ability for making provisions for meeting the risk as and when they arise.

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