Let us learn about this scheme in detail in this article.
What is Kanya Kosh Scheme?
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.
Features of Kanya Kosh Scheme
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 forÂ
Girl Child from (Kanya) from the EWS section of the society
Type of Kanya Kosh Account
Savings Account (Kanya Kosh)
Contribution by the State GovernmentÂ
Rs. 5000 when a girl child is born
Up to Rs. 21,000 in period of 5 years
Maturity Amount
The fund becomes Rs. 1 lakh by the time the girl child attains 18 years of age
The girl child must have cleared Class 10th and 12th exams
Contribution by Parents/Guardian
Parents can also contribute to the Kanya Kosh Account directly from their bank account
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
Education of the girl child (Kanya)
Healthcare expenses of the girl child
Marriage expenses for the girl child (Kanya)
Improve female Child Sex Ratio (CSR)
Awareness Campaigns
Kanya Kosh Scheme spreads awareness for:
Education and welfare of the girl child
Women Empowerment
Gender Equality
Awareness of healthcare and nourishment of women
Eligibility Criteria for Kanya Kosh Scheme
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
Resident Citizen in the State of Haryana
Age below 18 years
Enrolled in Government Schools of Haryana
Belongs to the Economically Weaker Section (EWS)
Resident Citizen in the State of Haryana
Belongs to the Economically Weaker Section (EWS)
Investment
Secure
Secure your child’s future with or without you
Start Investing
â‚ą10,000/Month
& Get
â‚ą1 Crore*
*Standard T & C Apply
Documents Required
The list of documents mandatory while applying for the Kanya Kosh Scheme is as follows:
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.
Invest MoreGet More
Invest â‚ą10K/MonthYOU GETâ‚ą1 Crores*For Your ChildView Plans
Invest â‚ą8K/MonthYOU GETâ‚ą80 Lakhs*For Your ChildView Plans
Invest â‚ą5K/MonthYOU GETâ‚ą50 Lakhs*For Your ChildView Plans
Standard T&C Apply *
Benefits of Kanya Kosh Scheme
The major benefits of joining the Kanya Kosh Scheme are as follows:
Financial Assistance to Family
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.
Encourages Education of Girl Child
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.
Women Empowerment
The Kanya Kosh Scheme seeks to empower girls by providing them with financial assistance for education, healthcare, and other opportunities.
Decreases Gender Discrimination
Supporting economically weak families financially helps in reducing the Child Sex Ratio (CSR) gap and removing gender discrimination by promoting girl-child education.
Spreads Awareness for Gender Equality
The various campaigns of the Kanya Kosh Scheme aim to spread awareness about the importance of the education and welfare of the girl child.
Monitoring & Evaluation of Scheme
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.
FAQ's
What is Haryana Kanya Kosh?
Haryana Kanya Kosh Scheme is a state-level initiative launched by the Government of Haryana in 2016. The scheme provides financial assistance of up to Rs. 21,000 in the Savings Account of the girl child belonging to economically weaker sections of society.
What is the Ladli Lakshmi Scheme in the State of Haryana?
Ladli Lakshmi Yojana is a social welfare initiative launched by the State Government of Haryana in 2006 for the education and empowerment of women in society. An amount of up to Rs. 21,000 is paid to the Kanya Kosh Account of the girl child till she attains the age of maturity of 18 years.
How does the scheme benefit the girl children of Haryana?
The benefits for a girl child offered by the Haryana Government through Ladli Lakshmi Yojana: Rs. 5,000 annually Up to a sum of Rs. 21,000 Paid to the Kanya Kosh Account of the girl child In a period of 5 years from the year of her birth
What is the age limit for Kanya Kosh Scheme?
The age limit to join the Kanya Kosh Scheme is from birth till she attains the maturity age of 18 years.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. 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. 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. ++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^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.
Investment
Secure
Secure your Child’s Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Insurers Offering Child Plans
Tata AIA
Aditya Birla Sun Life
Bajaj Allianz
Axis Max Life
HDFC Life
ICICI Prudential
Bharti AXA Life
Edelweiss Life
Kotak Life
Future Generali
PNB MetLife
SBI Life
Aviva
Bandhan Life
Canara HSBC
IDBI Federal
IndiaFirst
Pramerica Life
Reliance Life
Sahara Life
Shriram Life
Star Union
View more insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or
insurance product offered by an insurer.