TS Govt. releases Rs 60 cr for overseas studies of BC students

Hyderabad: The Telangana State Government has released Rs 60 crores towards “Mahatma Jyothiba Phule BC Overseas Vidya Nidhi” scheme to provide financial assistance for 300 Backward Classes students for pursuing higher studies abroad. Each student will get at Rs 20 lakhs, under the ‘Special Development Fund for Welfare and Development Activities’ during the year 2016-17.

A GO in this regard was issued on Monday. The amount was sanctioned following a request made by the Backward Classes Welfare Department for it, for implementation of Overseas Study Scheme for Backward Classes.

The Government Order said that the amount sanctioned shall be credited directly to the PD Account No.32 of the Telangana State Backward Classes Co-operative Finance Corporation Ltd., Hyderabad. The District Treasury Officer/Pay and Accounts Officer has been directed to adjust the amount by crediting to the above PD Account.

The Managing Director of the  Finance Corporation, has been  authorized to draw and incur the expenditure strictly as per the guidelines and procedures laid down in the Vidya Nidhi scheme and shall furnish utilization certificate after utilizing the sanctioned amount as per the rules in vogue. The Commissioner, Backward Classes Welfare Department, shall monitor the progress regularly, so as to ensure effective utilization of the amount sanctioned, the order said. –NSS

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