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TS Govt Releases Rs.60 Cr for BC Overseas Vidya Nidhi

The Telangana State Government has released Rs.60 crore towards “Mahatma Jyothiba Phule BC Overseas Vidya Nidhi” scheme to provide financial assistance for 300  Backward Classes students for pursuing higher studies  abroad, at Rs.20.00 lakh per student,  under  the ‘Special Development Fund  for Welfare and Development Activities’ during the year 2016-17.

A G O in this regard was issued today. The amount was sanctioned following a request made by the Backward Classes Welfare Department for it, for  implementation of  the new scheme of Overseas Study Scheme for Backward Classes.

           

The  Government order said that the amount sanctioned  shall be credited directly to the P.D 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)