Rs 10k as endowment from govt for each new born

In a novel welfare measure, the LDF Government in Kerala Thursday announced a scheme to deposit Rs 10,000 as endowment in the name of each new born.

Last Updated: Feb 11, 2011, 00:15 AM IST

Thiruvananthapuram: In a novel welfare measure,
the LDF Government in Kerala Thursday announced a scheme to
deposit Rs 10,000 as endowment in the name of each new born.

While the Government would provide the entire amount for
children from BPL families, the non-BPL sections would
have to bear half the amount.

The amount would be put as fixed deposit in a bank and the
principal and interest accumulating on it would be utilised
for higher studies of the child after the plus-two stage,
state Finance Minister T M Thomas Isaac announced in the
budget for 2011-12.

This would enable the beneficiary to go for either higher
education, finding self-employment or going for skill-based
trainings.

PTI