Prime Minister Narendra Modi chaired Cabinet Committee of Economic Affairs (CCEA) has approved more than ₹59,000 crores investment in centrally sponsored Post-Matric Scholarship Scheme, which will benefit over four crore Scheduled Caste students in the next five years.
Of the total investment of ₹59,048 crores, the Centre would contribute 60 per cent (₹35,534), and the rest by the state governments. In its official statement, the Centre mentioned the scheme was focused on enrolling the poorest students and would maintain complete transparency.
In its official statement, the Centre said this replaces the existing 'committed liability' system and brings greater involvement of the government in this crucial scheme. The scheme would focus on enrolling the students from the poorest households who have passed class 10, ensure timely payments, comprehensive accountability, continuous monitoring, and total transparency in the scheme, NDTV reported.
Reportedly, there are 1.36 crore such students, who have currently stopped their education after class 10. They would be brought into the higher education system in the next five years.
Social audits, yearly third party evaluation and half-yearly self-audited reports will be collected from each institution. On Wednesday, December 23, the PM tweeted about the development, stating the government was determined to ensure quality and affordable education to all.
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