Titled 'Kanyashree', the scheme has two parts - a one-time payment and an annual scholarship - and will be available to families whose annual income is less than Rs 1.2 lakh.
The one-time payment of Rs 25,000 will be made to the family of a girl if she is part of the education stream and not married off till 18 years of age.
"Kanyashree is aimed at providing some relief to the poor girl students and their empowerment through improved education," Banerjee said, launching the project.
"Today there were 10,000 beneficiaries, but the target is to cover 24 lakh in a year," she said.
There would be no income restrictions for entitlement to get the benefit for the disabled students, she said.
"Rammohun Roy and Ishwarchandra Vidyasagar had fought child marriage, but girls are getting married at the ages of 12, 13 and 14. Many girls are married off at an early age. We are trying to stop this," Banerjee said.
She said the project would cost the exchequer around Rs 1,000 crore annually.
"Direct bank transfer of money from the exchequer will start soon, for which 10,000 beneficiaries have been selected today and beneficiaries have bank accounts opened for the money transfer process," she said.
