The scheme, named "Muhafiz" (Guardian), was launched by Chief Minister Mehbooba Mufti.
Under the scheme, around three lakh workers registered with the Jammu and Kashmir Building and Other Construction Workers' Welfare Board (JKBOCWWB) would be covered under accidental, life and disability insurance.
"Government is committed to the welfare of marginalised sections of society, particularly labour class who have seen enough exploitation in the past," Mufti said.
The chief minister said, "Compensation in case of deaths, accidents or injuries has to be there. But efforts should be made to make their life better besides focusing on the education and upbringing of their wards."
Mufti announced the enhancement of monthly scholarship for the children of these workers to Rs 1500, which was earlier Rs 1200.
She advised the department to ensure that more and more workers, particularly female, are covered under the ambit of the scheme.
Mehbooba, on the occasion, unveiled the micro credit linked debit card of the JK Bank for these workers. She also launched the insurance scheme for them and the website of Workers' Welfare Board.
The scheme has been launched to commemorate the second death anniversary of former chief minister and PDP founder Mufti Muhammad Sayeed.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)