In a heartening Diwali gift, the state government of Maharashtra has elevated the annual scholarship amounts for over 32,000 standard V and VIII students to Rs 5,000 and Rs 7,500, respectively, starting from this academic year. With a generous disbursement of Rs 19 crore, this move marks a significant increase from the previous amounts of Rs 1,000 and Rs 1,500 for standard V and VIII students, respectively.
Director of primary education, Mahesh Palkar, announced the revised payment structure, revealing that students will now receive Rs 500 and Rs 750 every month for ten months. This move is a part of the government’s commitment to support education and academic excellence among students, as per the official government notification.
The recent revision comes into effect from the academic year 2023-24, and the new rates will apply to scholarship distributions. The director expressed, “A total of 32,667 scholarship qualifiers in the fifth and eighth scholarship examination of the school education department, which is the most popular among students, parents, and schools in the state, have been distributed at the revised rates on the occasion of Diwali.”
This scholarship scheme has been a consistent source of support for students in Maharashtra since 1954-55. Originally aimed at standard IV and class VII students, it was later shifted to standard V and VIII in 2015, aligning with the Right to Education Act. Rajesh Kshirsagar, deputy director of education, emphasized the merit-based nature of these scholarships, stating, “These scholarships are given as an academic incentive to meritorious students. The total number of sets for standard V is 16,683 and for standard VIII is 16,258.”
However, the distribution of these scholarships faces challenges, particularly concerning the accuracy of bank account information. Palkar addressed this issue, stating, “Lack of accurate bank account information for students is a major problem in the disbursement of scholarships.” He further added, “The necessary funds have been requested from the state government to distribute the scholarship to students at the new rate. As soon as the funds are received, the scholarship will be distributed to all the remaining students.”
The primary objective of this scholarship initiative is to alleviate the financial burden on students and families facing economic challenges. As Maharashtra continues to invest in the education sector, this Diwali gift signifies the government’s commitment to fostering academic excellence and ensuring equal opportunities for all students.
