Under the scheme, the children would get support from the state government for their studies till higher secondary.
"If the beneficiary is a girl, the state will also bear the cost of her marriage," an official statement said.
A scheme for nutrition requirements of children and mothers was also launched today. The new scheme will be operational from 2017 to 2020.
Patnaik launched the scheme at a function marking completion of five years of 'Mamata Yojana' which is for the pregnant and lactating women.