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GOVERNMENT POLICIES AND SCHEMES - March 2024

Mar 2024

Mar 01, 2024

Nagaland Govt. Announces Universal Life Insurance Scheme

  • Nagaland government announced a fully-funded universal life insurance scheme to mitigate financial hardship due to untimely demise of a family's breadwinner. The comprehensive scheme is part of the Budget tabled in the state assembly by Chief Minister and Minister in Charge Finance Neiphiu Rio.
  • The Chief Minister's Universal Life Insurance Scheme will be fully funded by the state government.
  • This scheme is a testament of the state's continued commitment towards ensuring the financial security and protection of its citizens, complementing the Chief Minister's Health Insurance Scheme introduced in the previous budget.
  • The scheme will provide life insurance coverage for the breadwinner of the family and accidental insurance coverage for three other members of every family in the state.

Defence Minister Approves Financial Incentive Scheme for Armed Forces Personnel Excelling in Asia...

  • Raksha Mantri Shri Rajnath Singh demonstrated unwavering support for Armed Forces personnel who excelled in the 19th Asian Games and 4th Asian Para Games, held in Hangzhou, China, during September-October 2023. In a landmark move, the Ministry of Defence announced a Financial Incentive Scheme to reward the Medal Winners, aiming to foster Recognition and Motivation among these athletes as they prepare for the Paris Olympics Games 2024.
  • Under this initiative, Gold medal winners in both the Asian Games and Asian Para Games will receive a Cash Reward of Rs. 25 lakh each, Silver medal winners will be awarded Rs. 15 lakh each, and Bronze medal winners will receive Rs. 10 lakh each.
  • This is the first time that the Ministry of Defence has introduced such a Financial Incentive Scheme for Armed Forces Personnel participating in sporting events.
  • The announcement of this scheme underscores the government's commitment to nurturing sporting talent within the Armed Forces and providing them with the necessary support to excel on the global stage.
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