New Delhi: The Union Cabinet approved the implementation of Prime Minister's Research Fellows (PMRF) scheme at a total cost of Rs 1,650 crore for a period of seven years beginning 2018-19.

Prime Minister Narendra Modi has emphasized on the importance of innovation and technology for the progress and development of the nation.

This fellowship scheme is a key to realizing his vision of development through innovation. The scheme was announced in the Budget speech 2018-19.

Under this scheme, the meritorious 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 from IISc/IITs/NITs/IISERs/IIITs will be offered direct admission in the PhD programme in the IITs/IISc.

Such students, who fulfil the eligibility criteria, and are shortlisted through a selection process, as laid down in the PMRF guidelines, will be offered a fellowship of Rs 70,000 per month for the first two years, Rs 75,000 per month for the third year, and Rs 80,000 per month in the fourth and fifth years.

Apart from this, a research grant of Rs two lakh will be provided to each of the fellows for a period of five years to cover their foreign travel expenses for presenting research papers in international conferences and seminars.

A maximum of 3,000 fellows would be selected in a three year period, beginning 2018-19.