In a move to help overseas Indian workers, the government has cleared a proposal for setting up of a pension and life insurance fund for them in the Emigration Check Required (ECR) countries. This scheme will provide social security coverage to overseas Indian workers, particularly in West Asia.
Announcing the governments decision to introduce and sponsor the fund at the 10th Pravasi Bharatiya Divas, Prime Minister Manmohan Singh said that the scheme will encourage overseas workers to voluntarily save money for their resettlement and old age.
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