What kind of benefits does the PM CARES for Children Scheme offer?

Question

Mihir Rakshit · Accepted Answer

The PM CARES for Children Scheme provides several benefits:

Financial Support: A ₹10 lakh corpus is created for each child, accessible at 18 through a monthly stipend between 18 and 23 years. The full ₹10 lakh is given at 23.
Education: Support for school education, including admission to Kendriya Vidyalayas, Kasturba Gandhi Balika Vidyalayas, or private schools. Scholarships of ₹20,000 per year are provided for school-going children in classes 1-12. The scheme also supports higher education by assisting with education loans and covering interest. Beneficiaries also get coaching for competitive exams.
Health Insurance: Enrollment under the Ayushman Bharat Scheme (PM-JAY) with ₹5 lakh health insurance until the child turns 23.
Boarding and Lodging: Support for boarding and lodging, preferably with extended family. If not possible, foster care or a Child Care Institution (CCI) is considered. A ₹4,000 monthly stipend is given to children staying with relatives under the Mission Vatsalya Scheme.

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