New Delhi: The Center has decided to provide scholarships to 40 million students for higher education. The revolutionary scheme is being implemented by changing the terms of post-matric scholarships offered to SC students. The decision was taken by the Union Cabinet on Economic Affairs chaired by the Prime Minister.
The Union Cabinet has sanctioned Rs 59,048 crore for the project. The objective of the scheme is to provide education from Plus One to more students belonging to Scheduled Castes. 60 percent of the amount will be provided by the Central Government and the remaining amount by the State Government. From 2017-18 to 2019-20, the central government spent about Rs 1,100 crore annually on scholarships. But from 2020-21 to 2025-26, the central government spends Rs 6,000 crore every year.