A decision to this effect was taken during the cabinet meeting held here.
The scheme, launched by the state government on April 1, 2016 in place of 'Sukanya' scheme, is aimed at improving the skewed girl child ratio, prevent sex determination and female foeticide, and support female education.
According to the earlier provisions, the 'Majhi Kanya Bhagyashree' scheme catered to girls from Below Poverty Line (BPL) families and those whose annual income was upto Rs 1 lakh.
As per the revised provisions after bearing the first girl child, if the mother or the father undergoes a family planning operation, a sum of Rs 50,000 shall be deposited in a bank in the name of the girl child.
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Also, if any of the parents undergo a family planning operation after bearing the second girl child, a sum of Rs 25,000 shall be deposited in the name of both children.
The girl will be able to withdraw the interest money twice - once she attains 6 years of age and when she turns 12.
The scheme will be valid only if there are a maximum of two girl children born. In case a third child is born, the scheme shall become invalid for the first two as well.
Maharashtra's child sex ratio was 894 girls per 1,000 boys (below the age of six), the ninth-lowest in India, according to Census 2011. The ratio dropped from 946 girls per 1,000 boys in 1991 to 913 in 2001 and 894 in 2011.