India Govt. to spend 30 billion dollar on scholarships

New Delhi: The Government of India has decided to spend $ 30 billion on scholarships under 11th five-year plan. Union Finance Minister Mr. P. Chidambaram made this announcement in New Delhi today. The Cabinet Committee on Economic Affairs (CCEA) today gave its approval to the centrally sponsored National means-cum-merit-scholarship during the 11th Five Year Plan. Every year at least 1,00,000 scholarships of Rs 6,000 per annum each would be given away to meritorious students belonging to economically weaker sections of society beginning from class 9 and would be continued till class 12. To avail this scholarship the annual income of the families of these students should not be more than Rs 1,50,000. The scholarship is meant for student studying in government, local body and government aided schools.