Mooted by Women and Child Development Ministry, the scheme --Sukanya-- would be tabled in the cabinet meet, scheduled on August 30.
Under the insurance scheme if a girl child is born in a family falling below poverty line (BPL), the government would deposit Rs 21,200 in her name after January 2014.
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"The girl will get Rs 1 lakh on maturity after she is above 18, for her education purposes," an official said. Earlier, Minister for Women and Child development Varsha Gaikwad, who had initiated the scheme, had met with opposition from the Finance Department and Deputy Chief Minister Ajit Pawar, in view of the possible burden on the state exchequer.
"Over two lakh girls take birth every year in BPL families and they are expected to be covered under the scheme, which is likely to cost the state government around Rs 576 crore," the official said. The Ministry is also expected to table a proposal, aimed at providing financial aid to rape and acid attack victims, in the next week's cabinet meet.