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Sikkim govt to create fixed deposits of Rs 10,800 in name of newborns

By Business Standard - 8 months ago
Sikkim Chief Minister Prem Singh Tamang on Monday announced a new scheme under which the government will make a fixed deposit of Rs 10,800 in the name of a newborn. Addressing the 'Jan Bharosa Sammelan' in Soreng district, Tamang announced the 'Sikkim Sishu Samriddhi Yojana' ahead of the assembly elections in the state. He said the fixed deposit will mature and the money can be withdrawn when the child turns 18. The Himalayan state has the lowest population in the country at 6.10 lakh, according to the 2011 census. Tamang's government has been taking a slew of measures to encourage couples to have more babies to fend off concerns over the aging population. Among these are additional increments for government employees having two or three children, maternity leaves of one year for female government employees, and financial grants for non-working mothers. "The low fertility rate among the local indigenous population is a matter of serious concern in Sikkim... We must do everything i

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