Budget 2021-2022

Proposal to bring poor women under microinsurance

Staff Reporter | Published: 2021-06-05 21:34:23

It has been proposed in the new financial year's budget to bring poor women under micro insurance to promote empowerment of women. In this budget for the financial year 2021-2022, the possibility of introducing micro insurance to alleviate poverty is being explored.  

Finance Ministry A H M Mustafa Kamal presented the budget proposal namely ‘Bangladesh on the way to the strong future with the priority to livelihood’ in the House of Parliament on 3 June 2021 at 3 PM. It will be passed on 30 June after discussion.

In this budget of Tk. 6 lakh 3 thousand 681 crores for the new financial year, it has been mentioned about insurance services. To make the insurance service people-friendly and welfare-oriented, steps have been taken to introduce expatriate insurance, agricultural insurance, health insurance, livestock insurance, crop insurance for the Haor area.

The feasibility of introducing micro-insurance to alleviate poverty is being explored. Steps have been taken to enhance women's empowerment by bringing poor women under microinsurance. In addition, there will be initiatives to introduce automation in the insurance sector. In the meantime, the uniform Know Your Customer (KYC) system has been introduced.

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