PM CARES for Children Scheme

• Integrity Education, Delhi
• 23, Jul 2021

• It aims to support children who have lost both the Parents or legal Guardian or Adoptive Parents or Surviving Parent to COVID-19 pandemic
• The objective of the Scheme is to ensure comprehensive care and protection of Children in a sustained manner, and enable their well being through health insurance, empower them through education and equip them for self-sufficient existence with financial support on reaching 23 years of age.

1. 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.
• This corpus will be used to give a monthly financial support/ stipend from 18 years of age, for the next five years to take care of his or her personal requirements during the period of higher education
• On reaching the age of 23 years, he or she will get the corpus amount as one lump-sum for personal and professional use.

2. School Education: For children under 10 years

• The child will be given admission in the nearest Kendriya Vidyalaya or in a private school as a day scholar.
• PM-CARES will also pay for expenditure on uniform, text books and notebooks.

3. School Education: for children between 11-18 years

• The child will be given admission in any Central Government residential school such as Sainik School, Navodaya Vidyalaya etc.
• PM CARES will also pay for expenditure on uniform, text books and notebooks.

4. Support for Higher Education:

• The child will be assisted in obtaining education loan for Professional courses / Higher 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.

5. Health Insurance

• All children will be enrolled as a beneficiary under Ayushman Bharat Scheme (PM-JAY) with a health insurance cover of Rs. 5 lakhs.
• The premium amount for these children till the age of 18 years will be paid by PM CARES.