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Andhra Pradesh Announces Fixed Deposit Of Rs10 Lakh For Children Orphaned By COVID

The Chief Minister has instructed his officials on designing a financial package with the banks so that that the provided amount would be under fixed deposit until the child reaches the age of 25 years and the beneficiary gets optimum interest.

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The YS Jagan Mohan Reddy-led Andhra Pradesh government on Monday, May 17, announced the decision to provide financial aid to the children orphaned due to COVID-19, in an attempt to help them secure a better future.

The Chief Minister directed his officials to make arrangements towards fixing a deposit of ₹10 lakh for every child who has lost both their parents to the deadly COVID-19 contagion.

A statement issued by the state government highlighted the vulnerability and the financial insecurity of the children who have lost both their parents during the pandemic.

"Understanding that the future of these kids are at risk, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has taken a crucial decision to work on creating the security of a fixed deposit of ₹ 10 lakhs for each and every orphan child," read the statement, reported NDTV.

Reddy has instructed his officials on designing a financial package with the banks in finalising that the provided amount would be under fixed deposit until the child reaches the age of 25 years. He further directed to work on an action plan for providing the most beneficial interest amount to the children or their guardian for receiving on a monthly basis.

In the backdrop of rising cases in the state particularly in the rural regions, the partial curfew has also extended till the end of May.

The vaccination drive in the state has also progressed as at least 21.74 lakh people have inoculated with the first dose of the vaccine and 31.59 lakh with the first dose. At present, the state has 2,10,436 active cases of COVID-19.

Also read: Will Continue Relief Work': Youth Congress Chief Srinivas After Being Questioned By Police Over COVID Distribution

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