PM CARES for Children Scheme 2021 Notification Download

By | October 9, 2021
(Last Updated On: October 9, 2021)

MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 6th October, 2021

G.S.R. 723(E).—In exercise of the powers conferred by section 3A of the Government Savings
Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme, namely:-
1. (1)This Scheme may be called the PM CARES for Children Scheme, 2021.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. Definitions.-
(1) In this Scheme, unless the context otherwise requires,-
(a) “account” means account opened in post offices under this Scheme;
(b) “account holder” means beneficiary child in whose name the account is held;
(c) “Act” means the Government Savings Promotion Act, 1873 (5 of 1873);
(d) “concerned authority” means the Ministry of Women and Child Development for the purpose of
coordination and overall management of this Scheme;
(e) “date of event” means the date between the period 11.3.2020 to 31.12.2021 during which the
children who had not attained the age of eighteen years, lost both parents or last surviving parent
or both adopted parents or sole legal guardian to COVID-19 pandemic;
(f) “date of opening of account” means the date on which the account is opened under the scheme;
(g) “Form” means forms appended to this Scheme;
(h) “General Rules” means the Government Savings Promotion General Rules, 2018;
(i) “joint account holder” means the concerned District Magistrate, who shall act as the guardian
for the purpose of operation of the account under the Scheme;
(j) “scheme guidelines” means the guidelines issued by the Ministry of Women and Child
Development on PM CARES for Children Scheme, 2021.
(2) Words and the expressions used herein but not defined shall have the meanings respectively
assigned to them in the Act and the General Rules.

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Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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