ICAI Boosts Scholarships for CA Aspirants, Scholarship Corpus Increased to ₹500 Crore

Merit Award, Economically Needy Scholarships (Final, Intermediate, Foundation) revised; Corpus fund increased fivefold

To provide financial support for Chartered Accountancy aspirants across India, the Institute of Chartered Accountants of India (ICAI) has approved a substantial increase in its scholarship schemes. The ICAI Council has not only revised the monthly scholarship amounts for students at different levels of the CA programme but also increased the overall scholarship corpus fivefold—from ₹100 crore to ₹500 crore.

This major initiative is intended to promote inclusivity and ensure that deserving and meritorious students, regardless of their economic background, can pursue the rigorous CA journey with greater ease.

Breakdown of Revised Scholarship Schemes

1. Merit Award – Final Students

This scholarship is targeted at top-performing students. It will be awarded to those who secure ranks from 1st to 10th in the Intermediate Examination. The scholarship amount has been increased from ₹2,500 to ₹5,000 per month. This move recognises and rewards academic excellence at a critical stage of the CA course.

2. Economically Needy Students Scholarship – Merit-Based (Final Students)

This category supports rank holders from 11th to 50th in the Intermediate Examination who come from economically disadvantaged backgrounds.

Scholarship amount has been raised from ₹2,000 to ₹4,000 per month.

The parental income limit for eligibility has also been enhanced from ₹3 lakh to ₹5 lakh per annum.

3. Economically Needy Students Scholarship – Intermediate and Final Levels

For non-rank holders as well, ICAI has revised the general scholarship support for students in the Intermediate and Final stages who come from families with limited income.

The scholarship amount has increased from ₹1,500 to ₹2,500 per month.

The parental income ceiling has been raised from ₹3 lakh to ₹5 lakh annually.

4. Economically Needy Students Scholarship – Foundation Course

For the first time, ICAI has introduced a dedicated scholarship for Foundation course students from economically weaker sections.

Students will be eligible for ₹1,500 per month.

The parental income limit is capped at ₹5 lakh per annum.

By revising the income thresholds and doubling or significantly increasing the monthly scholarship amounts, the institute aims to remove financial barriers that often discourage capable students from pursuing the CA course.

The initiative is especially significant at a time when the cost of education and living expenses are rising steadily. ICAI’s decision to increase the corpus fund to ₹500 crore indicates a long-term vision to build a more inclusive and equitable professional landscape in the accounting field.