Fixed deposit scheme to encourage girl education at primary level

In India government on its level has been making efforts to encourage parents of the girls belonging to lower strata of the society to send them to school. Working on this line BMS in order to encourage girl students complete their primary school will be providing a fixed amount of Rs 1,000 and would double the amount on completion of the education.

Till now the civic body was giving an allowance of Re 1 per girl child for attending the class every day. But now it has suggested a fixed amount scheme. In civic-run schools mostly students are from lower strata of the society or slum areas that often do not complete their primary education resulting in high dropout rate. In a hope that financial incentive will be able to lure parents and children to complete their primary education the civic administration has suggested a fixed amount scheme.

Instead of attendance allowance under the new scheme at the time of enrollment in class I, a fixed deposits of Rs 1,000 will be made in Indian Bank which will get doubled when the girl student completes her primary education till class VII. In the scheduled bank savings account will be created in the name of the student in which the money will be deposited.

This scheme will be started from financial year 2009-2010 and approximately 42,750 girls who enrolled in the first standard for this academic year will be benefited from the scheme. The proposal has been approved by the education committee and an amount of Rs 4.27 crore has been sanctioned. While in the on going scheme the BMC used to give Re 1 to girl students for a day’s attendance and by the end of each academic year a maximum of Rs 210 (for 210 working days) was credited in their account.