PM Modi announces Rs 10 Lakh PM CARES Fund for kids orphaned due to COVID

Prime Minister Narendra Modi has announced a number of welfare measures for children who lost their parents to COVID-19. All children who have lost either both parents or surviving parents or legal guardians or adoptive parents due to COVID-19 will be supported under PM-CARES for Children scheme. The welfare measures have been listed below:

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Fixed Deposit in the name of the child

  • The government has announced the “PM-CARES for Children” scheme under which fixed deposits will be opened in the names of such children from the PM-CARES fund.
  • The total corpus of the fund will be Rs 10 lakh for each child.
  • This corpus will be used to give a monthly financial support/ stipend when the child reaches 18 years of age, for the next five years to take care of his or her personal requirements.
  • Upon reaching the age of 23 years, the child will get the corpus amount as one lump sum for personal and professional use.

Education

  • Children under 10 years will be given admission to the nearest Kendriya Vidyalaya or in a private school as a day scholar.
  • Children between 11-18 years of age will be given admission to any central government residential school such as Sainik School and Navodaya Vidyalaya.
  • For higher education, children will be assisted in obtaining education loan for professional courses or higher education in India according to existing norms. The interest on this loan will be paid from the PM-CARES fund.

Health Insurance

  • Each child 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 will be paid by PM CARES, till they attain the age of 18 years.

Find More National News Here

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Login

OR

Forgot Password?

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Sign Up

OR
Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Forgot Password

Enter the email address associated with your account, and we'll email you an OTP to verify it's you.


Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to
/6


Did not recive OTP?

Resend in 60s

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Change Password



Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Almost there

Please enter your phone no. to proceed
+91

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to Edit Number


Did not recive OTP?

Resend 60

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?