In a big push for education of students belonging to the Scheduled Caste, the Union Cabinet on Wednesday okayed Rs 59,000 crore for post-matric scholarship for five years.
The Cabinet meeting chaired by Prime Minister Narendra Modi estimated that this mega scholarship scheme will benefit more than four crore students for continuing their education from Class XI. The Central Government will spend 60 per cent of the programme. The rest will be provided by the State Government.
“This replaces the existing ‘committed liability’ system and brings greater involvement of the Central Govt in this crucial scheme,” the Union Cabinet said in a statement.