The Union Finance Minister Arun Jaitley had on February 1 announced a Prime Minister’s Research Fellows (PMRF) Scheme in the Union Budget. This scheme would cost Rs 1,650 crore for a period of seven years beginning 2018-19. The cabinet gave its nod on the proposal on Wednesday. It would provide grants to top 3,000 B.Tech graduates to pursue a PhD in the IITs and IISc.
An official statement read,
“Under this scheme, the best students who have completed or are in the final year of B.Tech or integrated M.Tech or M.Sc in science and technology streams in the IISc/IITs/NITs/IISERs/IIITs will be offered direct admission in the PhD programme in the IITs/IISc.”
The graduates will have to fulfil the eligibility criteria and get through the selection process as laid down in the PMRF guidelines. A fellowship of Rs. 70,000 per month for the first two years and Rs 75,000 per month in the third year will be provided. For the fourth and fifth years, it will be Rs. 80,000 per month.
In addition, a grant of Rs 2 lakh each will be provided to the fellows for a period of five years. This grant will cover the foreign travel expenses for research paper presentations and international conferences and seminars.
The scheme would set to rhythm the talent pool available in the country. Indigenous research and cutting-edge science and technology would help polish the reserves of science and technology as well.