India OKs National Social Security Fund

The Indian government has given approval to launch theNational Social Security Fundfor unorganized sector workers,Economic Timesreports. The fund will be operational with an initial allocation of $227 million.

The fund, whose nodal ministry will be the Labour and Employment Ministry, will provide support to social security schemes for various segments of unorganized workers. The fund will also help in evolution and funding of schemes by various departments that are currently involved in welfare of such workers.

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