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| PM Vidyalaxmi Scheme 2026 | ₹3,600 Crore Cabinet Approval | Key Features & Benefits |
About the PM Vidyalaxmi Scheme
The PM Vidyalaxmi Scheme is a centrally funded education-support programme aimed at improving access to higher education for students from economically weaker backgrounds. Approved with an outlay of ₹3,600 crore, it seeks to integrate financial assistance, digital support, and mentoring under a single national platform. The scheme builds on India’s push toward inclusive education and skill development in line with NEP 2020.
Objectives of the Scheme
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Ensure affordable higher education for poor and lower-middle-income students.
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Streamline and digitise education loan processes through a unified portal.
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Reduce dependency on informal lenders and prevent students from dropping out for financial reasons.
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Promote equitable access to professional courses, technical education, and higher studies.
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Support India’s goal of enhancing Gross Enrolment Ratio (GER) in higher education.
Key Features of the Scheme
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Single-window digital platform for scholarships, education loans, and financial aid.
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Simplified loan sanctions with faster processing and transparent tracking.
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Credit-linked assistance, especially for first-generation learners.
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Integration with Jan Dhan–Aadhaar–Mobile (JAM) for direct benefit transfers.
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Priority support for SC/ST/OBC, EWS, girls, and rural students.
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Linkage with Skill India & NEP 2020 to align education with employability.
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Counselling & grievance redressal support for students applying for loans.
Supplementary Government Schemes
These schemes complement PM Vidyalaxmi by strengthening the education ecosystem:
1. Vidya Lakshmi Portal
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Existing national portal for education loans; PM Vidyalaxmi is expected to enhance and expand this mechanism.
2. PM-USHA (PM–Uchchatar Shiksha Abhiyan)
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Supports universities and colleges through infrastructure and quality upgrades.
3. National Scholarship Portal (NSP)
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Direct benefit transfer–based scholarships for meritorious and disadvantaged students.
4. PM CARES for Children Scheme
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Educational & financial support for children orphaned due to COVID-19.
5. NEP 2020 Initiatives
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Multiple-entry/exit, academic bank of credits, and digital learning support higher education access.
PM Vidyalaxmi Scheme – Prelims MCQs
1. The PM Vidyalaxmi Scheme recently approved by the Union Cabinet primarily aims to:
A. Provide free school meals to all government school students
B. Improve access to higher education loans and financial assistance
C. Introduce universal digital literacy at school level
D. Fund private universities
Answer: B
Explanation: PM Vidyalaxmi focuses on affordable higher education and streamlined education loans.
2. The total outlay approved for the PM Vidyalaxmi Scheme is:
A. ₹1,800 crore
B. ₹2,500 crore
C. ₹3,600 crore
D. ₹5,000 crore
Answer: C
3. PM Vidyalaxmi Scheme aligns closely with which national policy?
A. National Education Policy (NEP) 2020
B. National Skill Qualification Framework
C. National Health Mission
D. Digital India Bill
Answer: A
4. Which of the following features is associated with PM Vidyalaxmi?
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Single-window digital platform
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Simplified education loan processing
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DBT-enabled assistance
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Direct recruitment to central services
A. 1 and 2 only
B. 1, 2 and 3 only
C. 2, 3 and 4 only
D. 1, 3 and 4 only
Answer: B
5. PM Vidyalaxmi Scheme gives priority support to which groups?
A. NRIs only
B. Urban IT professionals
C. SC/ST/OBC, EWS, girls, rural students
D. Senior citizens
Answer: C
6. Which of the following existing mechanisms is most closely related to PM Vidyalaxmi?
A. Vidya Lakshmi Portal
B. PM-KUSUM
C. BharatNet
D. MPLADS
Answer: A
Explanation: PM Vidyalaxmi expands the education loan ecosystem already supported by the Vidya Lakshmi Portal.
7. Which of the following is a key expected outcome of the PM Vidyalaxmi Scheme?
A. Increased FDI in education
B. Reduction in student dropouts due to financial constraints
C. Privatization of universities
D. Elimination of skill-based loans
Answer: B
8. The PM Vidyalaxmi Scheme is linked to the JAM trinity. JAM stands for:
A. Job–Assessment–Monitoring
B. Jan Dhan–Aadhaar–Mobile
C. Justified Aid Management
D. Jan Shiksha–Arogya–Mobile
Answer: B
9. Which supplementary scheme focuses on infrastructure improvement in higher education?
A. PM-USHA (Uchchatar Shiksha Abhiyan)
B. PM Poshan
C. Ayushman Bharat
D. PM SVANidhi
Answer: A
10. National Scholarship Portal (NSP), often linked with PM Vidyalaxmi, is mainly used for:
A. Centralized recruitment of teachers
B. Administering scholarships through DBT
C. Monitoring private universities
D. Conducting national entrance tests
Answer: B