Andhra Pradesh govt to make Rs 10 lakh fixed deposit for children orphaned due to COVID-19

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Andhra Pradesh Chief Minister YS Jaganmohan Reddy (file pic/ANI).
Andhra Pradesh Chief Minister YS Jaganmohan Reddy (file pic/ANI).

Amaravati (Andhra Pradesh) [India], May 28 (ANI): Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Thursday announced Rs 10 lakh ex-gratia in the form of fixed deposit to the children who lost their parents due to COVID-19.

The scheme is applicable to the children below the age of 18 years whose families are below the poverty line, informed a statement by the Chief Minister Office (CMO).

"The government hopes that by making a fixed deposit of Rs 10 lakhs per child they can utilise the monthly interest amount of about Rs 5,000 for their sustenance and fixed deposit as security for their future. After attaining the age of 25 years they can redeem the fixed deposit amount of Rs 10 lakhs for their future," the statement added.

So far, 34 orphaned children have been identified within a week in the state and issued the said fixed deposit bonds to each of them.

"The Government has issued instructions to Medical and Health Department which has issued guidelines for its implementation. Accordingly, all the district collectors are implementing the scheme transparently in their

respective districts.

The state government also spoke about the scheme in the recently-held one-day Assembly session. (ANI)