The Government will give fellowships to 1,000 meritorious students of B. Tech and M. Tech every year under the Prime Minister's Research Fellows scheme. <br/><br/>The fellowship amount will be Rs. 70 to 80 thousand per month. Apart from this, a research grant of Rs. two lakh will be provided to each of the fellows for a period of five years. <br/><br/>Under the scheme, the best 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 PhD programme in the IITs/IISc. <br/><br/>Briefing reporters in New Delhi today, Human Resource Development Minister Prakash Javadekar said, the government is working with speed to achieve the target of innovation because India lacks in innovation. <br/><br/>He said, for the first time, this kind of new scholarship is offered to meritorious students.