Kanya Kosh Scheme is a step taken by the State Government of Haryana in the direction of the welfare and development of the girl child.
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Let us learn about this scheme in detail in this article.
Kanya Kosh Scheme is a flagship child plan launched by the Haryana Government under the Ministry of Women & Child Development (MoW&CD) in 2016.Â
The scheme aims to provide financial assistance to the parents of a girl child (kanya) belonging to the Economically Weaker Sections (EWS) of the society. Under this scheme, the government opens a savings account (kanya kosh) with a contribution of Rs. 5000 when a girl child is born.
Let us learn the key features of Kanya Kosh Scheme in the table below:
Features | Details |
Launched By | State Government of Haryana |
Managed by | Ministry of Women & Child Development (MoW&CD) |
Scheme for | Girl Child from (Kanya) from the EWS section of the society |
Type of Kanya Kosh Account | Savings Account (Kanya Kosh) |
Contribution by the State Government |
|
Maturity Amount |
|
Contribution by Parents/Guardian |
|
Scholarship for Higher Education | Scholarships are provided for higher education to the girls who have passed Class 12th exam |
Objectives of the Kanya Kosh Scheme |
|
Awareness Campaigns | Kanya Kosh Scheme spreads awareness for:
|
The benefits of the Kanya Kosh Scheme can be availed by families falling into the eligibility criteria mentioned below:
Eligibility Criteria for Girl Child (Kanya) | Eligibility Criteria for Parents/Guardian |
|
|
The list of documents mandatory while applying for the Kanya Kosh Scheme is as follows:
Birth Certificate of the girl child
Bank Account Details of the girl child
School education certificate of the girl child
Aadhar Card of the Girl Child (Kanya)
Aadhar Card of the Parent/ Guardian
Income certificate of the Parent/ Guardian
Photo Ration Card of family
People also read: Sukanya Samriddhi Yojana
The parent/ guardian can follow the steps mentioned below to apply for the Kanya Kosh Scheme:
Step 1: Contact the Department of Women & Child Development/ Social Welfare Department/ District Collector’s Office of the resident state to apply for the scheme
Step 2: Get the application form for Kanya Kosh Scheme from the relevant authority
Step 3: Duly fill out the application form with the necessary details
Step 4: Submit the application form along with the required documents
Step 5: Upon verification of all the documents, the application gets approval from the government
Once the application gets approved, financial assistance as declared by the specific state gets transferred to the Kanya Kosh Account of the girl child.
The major benefits of joining the Kanya Kosh Scheme are as follows:
The scheme provides financial assistance in the form of Kanya Kosh (fund) to economically weaker families for the education and welfare of their girl child. This fund can help cover the expenses of school fees, books, uniforms, and other education-related expenses.
The scheme provides a financial net (Kanya Kosh) to encourage the girl child to gain quality education till she attains 18 years of age maturity.
The Kanya Kosh Scheme seeks to empower girls by providing them with financial assistance for education, healthcare, and other opportunities.
Supporting economically weak families financially helps in reducing the Child Sex Ratio (CSR) gap and removing gender discrimination by promoting girl-child education.
The various campaigns of the Kanya Kosh Scheme aim to spread awareness about the importance of the education and welfare of the girl child.
Various agencies and government institutions monitor and evaluate the implementation of the scheme to ensure its effectiveness and impact.
The Kanya Kosh Scheme is a small yet significant step towards promoting the education and welfare of the girl child. It has proven as a successful initiative in addressing the issue of gender inequality and lower Child Sex Ratio in India.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
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