Dr Ambedkar Overseas Loan Interest Subsidy Statistics: Students and Spending
· 2 min read · 3 official sources
The Social Justice Ministry spent Rs 56.22 crore on the Dr Ambedkar interest subsidy for OBC and EBC students studying abroad in 2023-24, covering 2,752 students. Official reports show Rs 143.93 crore released to nearly 25,845 students between 2014-15 and May 2023. Year-wise spending and coverage are below.
Dr. Ambedkar Scheme of Interest Subsidy on Educational Loan for Overseas Studies for OBCs and EBCs: key numbers
Infographic
Budget and spending, 2021-22 to 2023-24
Budget estimate, revised estimate and actual expenditure on Interest Subsidy on Overseas Studies of OBCs, from Table 6.1 of the Handbook on Social Welfare Statistics 2024.
| Year | Budget estimate (Rs crore) | Revised estimate (Rs crore) | Expenditure (Rs crore) |
|---|---|---|---|
| 2021-22 | 30.00 | 30.00 | 26.70 |
| 2022-23 | 27.00 | 27.00 | 24.05 |
| 2023-24 | 29.00 | 60.00 | 56.22 |
Source: socialjustice.gov.in, as on 31 March 2024
Students covered, 2021-22 to 2023-24
Number of beneficiaries of the interest subsidy each year, from Table 6.25 of the Handbook on Social Welfare Statistics 2024. Funds go to Canara Bank, the nodal bank, not to states.
| Year | Students covered |
|---|---|
| 2021-22 | 6,564 |
| 2022-23 | 4,159 |
| 2023-24 | 2,752 |
Source: socialjustice.gov.in, as on 31 March 2024
Funds released to Canara Bank, 2018-19 to 2020-21
Funds released under the scheme as reported in Annexure 5.6 of the Department's Annual Report 2020-21. The 2020-21 figure runs only up to 31 December 2020, and beneficiary counts were provisional or awaited.
| Year | Funds released (Rs lakh) | Beneficiaries (thousand) |
|---|---|---|
| 2018-19 | 1000.00 | 3.16 (provisional) |
| 2019-20 | 1500.00 | 3.29 (provisional) |
| 2020-21 (to 31 Dec 2020) | 1344.00 | Awaited |
Source: socialjustice.gov.in, as on 31 December 2020
How the interest subsidy reaches a student
What the numbers show
The Dr Ambedkar Central Sector Scheme of Interest Subsidy pays the interest on an overseas education loan for the moratorium period, for OBC and EBC students doing a Masters, M.Phil or PhD abroad. According to the Handbook on Social Welfare Statistics 2024, the Ministry of Social Justice and Empowerment spent Rs 56.22 crore on it in 2023-24 and 2,752 students were covered.
The trend over the years
Spending stayed in a narrow band of Rs 24 crore to Rs 27 crore in 2021-22 and 2022-23, then rose to Rs 56.22 crore in 2023-24, when the revised estimate was raised from Rs 29 crore to Rs 60 crore. The number of students covered moved the other way: 6,564 in 2021-22, 4,159 in 2022-23 and 2,752 in 2023-24.
Earlier, the Department's Annual Report 2020-21 recorded Rs 1,000 lakh released in 2018-19 and Rs 1,500 lakh in 2019-20, with provisional coverage of 3.16 thousand and 3.29 thousand beneficiaries. For 2020-21 it showed Rs 1,344 lakh released up to 31 December 2020.
Across the longer run, a Ministry booklet published through PIB in May 2023 said Rs 143.93 crore had been released to nearly 25,845 students since 2014-15.
Why there are no state figures
The money does not go through state governments. The Ministry releases it to Canara Bank, the nodal bank, which settles claims sent by the lending banks. Official tables therefore give only a national total each year.
What the figures do not tell you
A student is counted in each year their claim is settled, so the yearly counts cannot be added up to get the number of different people helped. Fresh applications have been on hold, with only beneficiaries up to the 31 March 2022 cut-off being processed. That likely explains part of the fall in students covered, but the reports do not say so directly.
Where to check for newer numbers
The Department of Social Justice and Empowerment publishes the Handbook on Social Welfare Statistics and its annual reports on socialjustice.gov.in. Parliament answers on the SHREYAS scheme for OBCs, which now includes this interest subsidy, also give yearly figures.
Frequently asked questions
How many students got the Dr Ambedkar overseas interest subsidy in 2023-24?
The Handbook on Social Welfare Statistics 2024 shows 2,752 students covered in 2023-24, down from 4,159 in 2022-23 and 6,564 in 2021-22.
How much does the government spend on this scheme?
Actual expenditure was Rs 56.22 crore in 2023-24, against Rs 24.05 crore in 2022-23 and Rs 26.70 crore in 2021-22, according to Table 6.1 of the Handbook. The revised estimate for 2023-24 was Rs 60 crore.
How many students have benefited since the scheme was relaunched in 2014-15?
A Social Justice Ministry booklet released through PIB in May 2023 said Rs 143.93 crore had been released to nearly 25,845 students since 2014-15.
Why is the money not shown state-wise?
The scheme is run through Canara Bank as the nodal bank, so the Ministry releases funds to the bank and not to states or union territories. That is why only national totals are published.
Is the scheme open to new students now?
No. Canara Bank has been told not to accept fresh applications for now, and only existing beneficiaries with a cut-off date of 31 March 2022 are being considered. See the scheme guide for details.
Eligibility, documents and how to apply: Dr. Ambedkar Scheme of Interest Subsidy on Educational Loan for Overseas Studies for OBCs and EBCs full guide
Charts, data files and the infographic are free to download, share and embed with a link back to this page.
Sources
This guide was checked against these official pages:
- socialjustice.gov.in (socialjustice.gov.in/public/ckeditor/upload/62201723632649.pdf)
- socialjustice.gov.in (socialjustice.gov.in/writereaddata/UploadFile/90341650353538.pdf)
- static.pib.gov.in (static.pib.gov.in/WriteReadData/specificdocs/documents/2023/may/doc2023519200401)