Prime Minister Narendra Modi declared on Saturday that under the 'PM-CARES for Children' scheme, all children who have lost both parents or guardians due to coronavirus will be assisted. PM-CARES would provide such kids with a monthly stipend once they become 18 and a fund of ten lakh when they are 23 years old, according to the prime minister. In a release, the PMO stated that "All children who have lost both parents or surviving parents 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."
Fixed deposit on behalf of a child
When each child reaches the age of 18, PM CARES will assist through a specially designed scheme to build a corpus of Rs 10 lakh for each kid. According to the PMO, this fund will be utilised to provide monthly financial support to children starting at the age of 18 for the following five years in order to meet their personal needs during their time in higher education. When the kid reaches the age of 23, he or she will receive the corpus as a lump-sum corpus which the child can use based on his or her needs.
Education for children under 10 years
The prime minister further stated that the child will be admitted as a day scholar to the nearest Kendriya Vidyalaya or a private school. In case of admission to a private school, the PM CARES will pay the fees under the Right to Education regulations. Even the PM-CARES would also cover the cost of uniforms, textbooks, and notebooks, according to the PMO.
Education for children between 11-18 years
The child would be admitted to any Central Government residential school, such as Sainik School, Navodaya Vidyalaya, and other such organizations. If the kid is cared for by the Guardian, grandparents, or extended family, he or she will be admitted as a day scholar to the nearest Kendriya Vidyalaya or private school.
Higher education for children
According to the existing Education Loan standards, the child would be supported in getting an education loan for professional courses or further education in the country. 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 fees or course fees for undergraduate/ vocational courses, as determined by the government. PM-CARES will give an equivalent scholarship to children who are not qualified under the current scholarship initiatives, according to a statement from the PMO.
Health insurance for children
All children would be enrolled as Ayushman Bharat Scheme (PM-JAY) beneficiaries, with a Rs 5 lakh health insurance cover. PM CARES will cover the premiums for these children until they reach the age of 18.