Innovative Idea by Modi Govt. to provide Assistance for Disabled.

Every paisa the banks have saved by rounding off each debit and credit entry in your accounts has created a corpus of Rs 260 crore. The Narendra Modi government has formed a trust headed by the Comptroller and Auditor General to utilise the earnings from this fund for the welfare of the differently-abled.

In a meeting on Wednesday, a decision was taken to re-launch a health insurance family floater scheme, now making it available for persons with disabilities – from newborns to 65-year-olds – with a coverage of Rs 2 lakh per annum. The trust already provides scholarship for the targeted group.


The Swavlambam health insurance scheme was first launched on October 2 last year providing coverage to persons with disabilities aged between 18 and 65. Now, the scheme has been expanded to the 0-65 age group. It provides health insurance cover up to Rs 2 lakh per annum as family floater (including self, spouse and two children). Only 10% of the contribution is paid by the beneficiary, the rest is borne by the trust.

Already, the trust provides a maintenance allowance of Rs 2,500-3,000 per month, book/stationery allowance of Rs 6,000-10,000 per annum, laptop/desktop, brailler and hearing aids worth Rs 40,000-70,000 as part of a scholarship scheme. The eligibility for the scholarship has been fixed at not less than 50% marks in higher secondary or graduation-level for students.

The fund is managed by the CAG as it’s chairman, and the law secretary and the finance secretary as its members. The corpus of the trust would be the excess amount collected from banks by way of rounding off interest tax collected from various borrowers under the Interest Tax Act.

The trust with the help of the finance ministry and the Reserve Bank of India has managed to create a corpus of about Rs 260 crores deposited in fixed deposits in nationalised banks. The interest amount earned out of the corpus is being spent on the welfare of disabled persons.

Source: TOI