Since 2008, the Scheme has been in operation. 

The scheme's goal is to provide financial help to deserving students whose family income is less than Rs.6 lakh per year, allowing them to cover a portion of their day-to-day expenses while pursuing higher education.

 The annual aim is 82000 scholarships (41000 for boys and 41000 for girls), which will be distributed among the State Education Boards depending on the population of the State in the 18-25 year old age range.

The rate of scholarship is Rs. 10,000/- per annum for the first three years and Rs. 20,000/- per annum for the fourth and fifth year.

Students who scored in the top 80% of successful applicants in the relevant stream from a certain Board of Examination in class XII and are enrolled in a normal course without receiving any other scholarships are eligible to apply under this scheme.

Students who graduated from Class XII in the academic years 2008 to 2014 must obtain a renewal application blank form from their respective State Education Board and submit it, duly certified by their respective institutions, stating that they received 60 percent in their previous exam, had 75 percent attendance, and were not involved in any ragging activities. 

The certified application form must be submitted to the State Education Board in his or her home state.