UP Cabinet’s nod to ‘Chief Minister’s Micro Entrepreneur Accident Insurance Scheme’

Lucknow (Uttar Pradesh) [India], June 28 (ANI): In a major decision to provide relief to the small and micro-entrepreneurs and boost the MSME sector in Uttar Pradesh, the Yogi Cabinet on Wednesday approved the ‘Chief Minister’s Micro Entrepreneur Accident Insurance Scheme’.

The scheme will facilitate the provision of financial assistance to micro-entrepreneurs in unavoidable circumstances. For example, in case of death or disability of a micro-entrepreneur, claims of up to Rs 5 lakh can be made under the scheme, Finance Minister Suresh Khanna informed. On partial disability, the relief amount will be given according to the percentage of disability as mentioned in the disability certificate issued by the Chief Medical Officer.
Khanna added, “Under the Mukhyamantri Micro Udyami Accident Insurance Scheme, micro-category entrepreneurs aged between 18 and 60 years can apply to avail of its benefits. Micro entrepreneurs, who are not eligible for the Traders Accident Insurance Scheme run by the GST Department, can immensely benefit from the scheme.”

It is noteworthy that only about 15 per cent of the total MSME units established in the state are formally registered on the Udyam Registration Portal and 85 per cent of the units are working informally.

Since registration on Udyam Portal is not mandatory, the data of these units are not formally available. Besides, due to the non-availability of formal data, the economic contribution of this sector is not reflected in reality, while policy formulation also faces difficulty. For all these reasons, the Yogi government has decided to launch the scheme.

According to the release, in case of an accident, a copy of all the forms will be submitted to the Deputy Commissioner (Industries) of the concerned district after the victim’s family has applied for it through the online system.

“In the event of an accident of a registered micro-entrepreneur, after receiving the recommendation of the claim amount from the Deputy Commissioner Industries, the insurance amount will be made available through DBT within a maximum of one month to the nominated heir of the entrepreneur from the directorate level, as per the prescribed procedure,” it stated.

Meanwhile, Uttar Pradesh Township Policy-2023 has also been approved by the government.

The Council of Ministers in UP has also approved the proposal to implement the Uttar Pradesh Township Policy, 2023. Private investment will get a boost with the implementation of the Uttar Pradesh Township Policy, 2023.

“State-of-the-art township facilities with better quality civic amenities from an economic, social and environmental point of view will be available to the general public at reasonable prices,” the release read.

With the development of modern townships equipped with quality civic amenities in the urban areas of the state, better residential facilities will be available to the general public. Planned development of cities will be encouraged. Along with this, there will be an increase in employment generation in the private sector.

Finance Minister Suresh Khanna said that the Yogi government is continuously promoting urbanisation and the decision is part of the government’s efforts in this direction.

Under this policy, the responsibility of both the developer and the development authority has been fixed. If the developers violate the rules, then penalties and confiscation of property can be imposed on them. There will also be a provision for 10 per cent EWS and 10 per cent LIG. The requirement for earmarked land has been reduced from 25 acres to 12.25 acres, it stated.