PM-CARES for Children scheme: Govt announces Rs 10 lakh fund, free education for kids orphaned due to COVID

File image of PM Modi

Prime Minister Narendra Modi on May 29 announced that those children who have lost both parents or guardian due to COVID-19 will be supported under the ‘PM-CARES for Children’ scheme.

The prime minister said that such children will get a monthly stipend once they turn 18 and a fund of Rs 10 lakh when they turn 23 from PM-CARES.

"All children who have lost both parents or surviving parent or legal guardian/adoptive parents due to COVID-19 will be supported under ‘PM-CARES for Children’ scheme. He also added that the measures being announced have only been possible due to the generous contributions to the PM CARES Fund which will support India’s fight against COVID-19," said the official statement.

Fixed Deposit in the name of the child:

>> PM CARES will contribute through a specially designed scheme to create a corpus of Rs 10 lakh for each child when he or she reaches 18 years of age.

The PMO said that this corpus will be used to give monthly financial support from 18 years of age, for the next five years to take care of the child's personal requirements during the period of higher education.

>> On reaching the age of 23 years, the child will get the corpus amount as one lump sum for personal and professional use.

School education: For children between 11 and 18 years:

>> According to the official statement, the child will be given admission in any Central Government residential school such as Sainik School, Navodaya Vidyalaya etc.

>> In case the child is to be continued under the care of Guardian/ grandparents/ extended family, then he or she will be given admission in the nearest Kendriya Vidyalaya or in a private school as a day scholar.

>> If the child is admitted to a private school, the fees as per the RTE norms will be given from the PM CARES.
PM CARES will also pay for expenditure on uniform, textbooks and notebooks.

Support for higher education:

>> The child will be assisted in obtaining an education loan for professional courses / hgher education in India as per the existing education loan norms. The interest on this loan will be paid by the PM CARES.

>> As an alternative, scholarship equivalent to the tuition fees/course fees for undergraduate/ vocational courses as per government norms will be provided to such children under Central or State Government schemes. For children who are not eligible under the existing scholarship schemes, PM CARES will provide an equivalent scholarship.

Health insurance:

>> All children will be enrolled as a beneficiary under Ayushman Bharat Scheme (PM-JAY) with a health insurance cover of Rs 5 lakh.

>> The premium amount for these children till the age of 18 years will be paid by PM CARES.