Prime Minister Narendra Modi on May 29 announced that those children who have lost both parents or guardian due to COVID-19 will be supported under the ‘PM-CARES for Children’ scheme.
The prime minister said that such children will get a monthly stipend once they turn 18 and a fund of Rs 10 lakh when they turn 23 from PM-CARES.
“All children who have lost both parents or surviving parent 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,” said the official statement.
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.
The PMO said that this corpus will be used to give monthly financial support from 18 years of age, for the next five years to take care of the child’s personal requirements during the period of higher education.
>> On reaching the age of 23 years, the child will get the corpus amount as one lump sum for personal and professional use.
School education: For children between 11 and 18 years:
>> According to the official statement, the child will be given admission in any Central Government residential school such as Sainik School, Navodaya Vidyalaya etc.
>> In case the child is to be continued under the care of Guardian/ grandparents/ extended family, then he or she will be given admission in the nearest Kendriya Vidyalaya or in a private school as a day scholar.>> If the child is admitted to a private school, the fees as per the RTE norms will be given from the PM CARES.
PM CARES will also pay for expenditure on uniform, textbooks and notebooks.
Support for higher education:
>> The child will be assisted in obtaining an education loan for professional courses / hgher 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.
>> All children 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 till the age of 18 years will be paid by PM CARES.
About PM CARES Fund
About Us :
Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund)’ has been set up.
• To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.
• To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.
• To undertake any other activity, which is not inconsistent with the above Objects.
Constitution of the Trust :
• Prime Minister is the ex-officio Chairman of the PM CARES Fund and Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
• The Chairperson of the Board of Trustees (Prime Minister) shall have the power to nominate three trustees to the Board of Trustees who shall be eminent persons in the field of research, health, science, social work, law, public administration and philanthropy.
• Any person appointed a Trustee shall act in a pro bono capacity.
Other details :
• The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support. The fund will be utilised in meeting the objectives as stated above.
• Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961. Donations to PM CARES Fund will also qualify to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013
• PM CARES Fund has also got exemption under the FCRA and a separate account for receiving foreign donations has been opened. This enables PM CARES Fund to accept donations and contributions from individuals and organizations based in foreign countries. This is consistent with respect to Prime Minister’s National Relief Fund (PMNRF). PMNRF has also received foreign contributions as a public trust since 2011.