New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved changes in the centrally sponsored Post-Matric Scholarship Scheme to benefit more than four crore Scheduled Caste students in the next five years and approved a total investment of over INR 59,000 crore for the purpose.
Of the total investment of INR 59,048 crore approved by the Cabinet chaired by Prime Minister Narendra Modi, 60 percent, which amounts to INR 35,534 crore, would be spent by the Central and the rest by the state govenrment.
“This replaces the existing ‘committed liability’ system and brings greater involvement of the Central government in this crucial scheme. The focus of the scheme would be on enrolling the poorest students, timely payments, comprehensive accountability, continuous monitoring and total transparency,” an official statement said.
The Cabinet also approved further strengthening of monitoring mechanism through conduct of social audits, annual third-party evaluation, and half-yearly self-audited reports from each institution.