The Buyt Desk
The second wave of COVID-19 has turned out to be deadlier than the first one. Many of us lost our loved ones. But worse was that many young children lost both their parents or guardians to the virus. The government has announced a slew of financial assistance to such children on 29th May 2021.
PM Narendra Modi tweeted “Several children lost their parents due to Covid-19. The Government will care for these children, ensure a life of dignity & opportunity for them. PM-CARES for Children scheme will ensure education & other assistance to children.”
Here are the 5 key announcements-
Monthly Stipend
A monthly stipend will be given to children once the child becomes an adult and attains 18 years of age. After they turn 23 years of age they will be provided with a consolidated fund of Rs 10 lakh.
Fixed Deposit for the children
Fixed deposits will be opened in the names of such children, and the PM-CARES fund will contribute through a specially designed scheme to create a corpus of Rs 10 lakh for each of them when he or she reaches 18 years of age.
School Education for children
Children under 10 years will be given admission to the nearest Kendriya Vidyalaya or in a private school as a day scholar. The fee, cost of uniform and expenditure on books will be taken care of by the PM CARE fund through RTE Act. Children in the age category of 11-18 years will be given admission in central government-run schools like Sainik Schools, Navodaya Vidyalaya etc. If the child wants to opt for any other school also he/she will be given financial aid through RTE norms and PM CARES will provide for all the expenses.
Education Loan
If the child wants to avail an education loan for his/her higher or professional education then he/she will be helped in obtaining this loan. The interest of this loan will be paid by PM CARES. The state and central government will also launch scholarship schemes to help these children attaining good quality education.
Health Insurance
Under Ayushman Bharat Scheme ( PM-JAY) all the children will get a health insurance cover of Rs 5 Lakhs. The premium will be paid by PM CARES till the child reaches the age of 18 years.
