PM CARES Scheme: Rs 341.87 crore credited into 4,345 children’s bank accounts, says Smriti Irani

NEW DELHI: The central government has credited Rs 341.87 crore to the accounts of 4,345 eligible children under the PM Cares scheme, minister of women and child development Smriti Zubin Irani told the Lok Sabha today. The PM CARES scheme was launched to support children who have lost both parents or surviving parent or legal guardians or adoptive parents due to COVID-19 pandemic.

The scheme was introduced to ensure comprehensive care for such children through health insurance, education and equip them for self-sufficient existence with financial support till 23 years of age.

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Under the PM CARES scheme, 3,962 students studying in Classes 1-12 received the scholarship; of which Maharashtra has the highest number of 727 students. 411 students from Uttar Pradesh and 390 of Madhya Pradesh also got the aid as on January 31, 2023.

“A pro-rata amount has been credited in the post office account of each identified child in such a manner that the corpus for each child becomes Rs10 lakhs at the time of attaining 18 years of age. Children are entitled to receive a monthly stipend between the age of 18 and 23 years, by investing the corpus of Rs10 lakhs into the monthly income scheme of the post office,” the minister informed.

Smriti Irani further informed that the children staying with relatives are receiving Rs 4,000 per month under Mission Vatsalya Scheme.

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Under this scheme, the kids will be able to take admission in the nearest Kendriya Vidyalaya Sangathan, Kasturba Gandhi Balika Vidyalaya or private schools. In addition, the scheme has also provided an annual scholarship of Rs 20,000 per child to 3,962 school going children of Class 1-12 as on January 31, 2023, the ministry said.

These children will also be able to avail the benefits of Swanath Scholarship Scheme for Students which is being implemented by All India Council for Technical Education (AICTE) for higher studies in AICTE approved Institutions and courses. They will be provided with Rs 50,000 per annum for every year of study, the ministry said in its reply.