PM Cares Fund for children benefits: Here’s all you need to Know

On the occasion of the government’s second anniversary in the second term, the Prime Minister made a special announcement on Saturday. The announcements were related to the Welfare measures to be taken for the children whose parents died due to covid-19. All these children will be supported under the PM-Cares for children scheme. For such orphanage children, he ensured a corpus of Rs. 10 lakh when they turn 23 years. Also including expenses of their educations.

The government will open a fixed deposit in name of orphaned children. Through a specially designs scheme, a Corpus of Rs.10 lakh for the individual will be created.

The PM said, “In such trying times it is our duty, as a society, to care for our children and instill hope for a bright future. All children who have lost both parents or surviving parent or legal guardian/adoptive parents due to Covid 19 will be supported under the ‘PM-CARES for Children’ scheme.”

The Prime Minister also mentioned all of those people who contribute towards the PM Cares Fund. All these measures for the children were made possible only due to the generous contribution made towards PM Cares.

PM Cares Fund Benefits Towards Children :

• Creation of fixed deposit in the name of child: The PM Cares will create a Corpus of 10 lakh rupees for each child when he or she reaches 18 years of age through a well-designed scheme. For the upcoming 5 years from the 18 years of age this will be used to give a monthly financial support/ stipend. On reaching the age of 23 years the person will get the whole Corpus amount for personal and professional use.
• Education for the children:

1.   Under the age of 18 years: Admission can be taken in any Central Government Residential         School like Sainik School,  Navodaya Vidyalaya
2.     Under the age of 10 years: Admission can be taken to the nearest Kendriya Vidyalaya or any private school. As per the RTE norms, the fees of private schools will be given from the PM Fund. This will also include expenses of textbooks, books, and uniforms.

• For higher education: The education loan for professional courses/ private education in India can be taken by a child. All the interest on the loan will be paid by the p.m. cares fund.
• Health Benefits: Under the Ayushman Bharat scheme(PM-Jay), all children will be enrolled in Health Insurance for Rs.5 lakh. Till the age of 18 years, the premium amount will be paid by PM cares.

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