PTI
Chennai
The Tamil Nadu government has issued work orders for nearly 1.28 lakh gold rings, costing approximately Rs 220 crore, to two jewellery retail chains under the ‘Maternal uncle gold ring scheme’ for newborns, a poll promise made by TVK, an official said on Saturday.
Over one lakh gold rings are required to implement the scheme for four months and the welfare initiative is set to be launched on September 15, marking the birth anniversary of Dravidian icon C N Annadurai.
Children born in government hospitals from June 22, the birthday of Chief Minister C Joseph Vijay, will benefit under this scheme.
According to a ballpark estimate, Rs 220 crore would be the cost of the 1,28,499 rings (22-carat) weighing approximately 128.5 kg and the Tamil Nadu government has made a budgetary provision of Rs 755.83 crore for the supply of a total of 4,41,667 rings (for one year).
Though the final cost for the initial batch of rings may dynamically vary, the state government has undertaken to pay for the gold at the prevailing
market rates.
The Tamil Nadu Medical Services Corporation (TNMSC) has issued the work orders to Joyalukkas and Kalyan Jewellers on 70:30 ratio to supply 1,28,499 gold rings required for the beneficiaries from June to September, the government said. Joyalukkas’ 70% share will work out to 89,949 rings, while Kalyan Jewellers’ 30% share will comprise 38,550 rings.
According to sources, at today’s market rate in Tamil Nadu, a gold ring under this scheme will cost the government approximately Rs 14,850 per gram.
The scheme, announced by Chief Minister C Joseph Vijay in the run-up to the April assembly election, will cover the children born in state-run hospitals to encourage deliveries in government medical
facilities.
