When each kid reaches the age of 18, PM-CARES will contribute through a specially developed program to build a corpus of Rs 10 lakh.
PM Modi stated that children who lost their parents to Covid-19 will receive a monthly stipend once they reach the age of 18 and a fund of ten lakh rupees when they reach the age of 23. PM-CARES is a non-profit organization dedicated to helping people
All children would be enrolled as Ayushman Bharat Scheme (PM-JAY) beneficiaries, with a health insurance cover of Rs. 5 lakh.
On Saturday, Prime Minister Narendra Modi said that under the ‘PM-CARES for Children’ program, all children who have lost both parents or guardians due to coronavirus will be assisted.
According to the prime minister, PM-CARES would provide such youngsters with a monthly stipend once they become 18 and a fund of ten lakh when they are 23 years old.
The PMO declared in a statement that “any children who have lost both parents or a surviving parent or legal guardian/adoptive parents owing to Covid-19 would be assisted under the PM-CARES for Children” initiative.
Fixed Deposit in the child’s name:
PM Narendra Modi’s office stated that PM CARES will contribute through a specially developed program to generate a corpus of ten lakh rupees for each kid when they reach the age of eighteen.
According to the PMO, the ten lakh corpus would be utilized to provide monthly financial help to children aged 18 to 23 years old to meet their personal needs throughout their time in higher study.
When the kid reaches the age of 23, he or she will receive the corpus as a lump payment for personal and professional use.
Schooling: For children under the age of ten years
The kid would be admitted to any Central Government residential school, such as Sainik School, Navodaya Vidyalaya, and other such institutions.
If the kid is cared for by the Guardian, grandparents, or extended relatives, he or she will be admitted as a day scholar to the nearest Kendriya Vidyalaya or private school.
Higher Education of Children
According to the existing Education Loan standards, the kid would be aided in getting an education loan for professional courses or further education in the nation. The PM-CARES will cover the interest on this loan.
Under Central or State Government Schemes, such children will be given scholarships equivalent to tuition costs or course costs for undergraduate/ vocational degrees, as determined by the government. According to a PMO statement, PM-CARES will give an equal scholarship to youngsters who are not qualified under the existing scholarship systems.
Health Insurance for Children
All children would be enrolled as Ayushman Bharat Scheme (PM-JAY) beneficiaries, with a health insurance cover of Rs. 5 lakh. PM CARES will cover the premiums for these children until they reach the age of 18.