New Delhi, Sep 18 (UNI) The Cabinet Committee on Economic Affairs(CCEA) today gave its approval for implementation of Central Sector Scheme for Scholarship for College and University students at a cost of Rs 1,000 crore during the Eleventh Plan period.
The government also gave approval to renew scholarship of the National Scholarship holders under the old scheme, with effect from 2008-09 till completion of their courses and to disburse the scholarship to them through the designated banks under the new scheme, without payment of arrears.
Briefing newspersons on the outcome of the CCEA decisons, Finance Minister P Chidambaram said the scheme will help meritorious students belonging to poorer sections of the society to meet their day-to-day expenses while pursuing college and university education, who have not benefitted from any other scholarship scheme.
It will also help to alleviate any hardships faced by the students due to discontinuation of the old scheme, he said.
The Scheme will be operational from the financial year 2008-09 and payments will be made from this year till the completion of the course by the students.
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