Govt approves closure of insurance scheme for overseas Indian

A scheme aimed at addressing social security issues of certain category of workers going abroad is set to be closed.
Now, the government will focus on the ongoing Pravasi Bharatiya Bima Yojna to provide insurance cover for such workers.
The Union Cabinet today approved closure of the Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) which was set up in 2012 to address the social security-related issues of the Emigration Check Required (ECR)-category workers going abroad for employment to ECR countries.
The subscription under the MGPSY was very low and no new subscription was received for more than a year. Closure of the scheme will, therefore, obviate the avoidable recurring administrative and record-keeping expenditure.

Official sources said, there were a mere 1,073 subscribers and only 443 were active. But the running cost for the government was Rs 3.9 crore.
Now, the government will focus on the Pravasi Bharatiya Bima Yojna which is mandatory in nature and very popular among this category of workers. The subscription of Rs 375 for three years is said to affordable for the workers going abroad, they said.