HRD Minister M M Pallam Raju cleared a proposal in this regard soon after the results were announced, said a ministry statement.
Hailing the achievement of the students, Raju in particular drew attention to the fact that the pass percentage of 82.10 per cent was the highest in the last five years.
The cash award will be given to the students who have studied from classes 9th to 12th and have passed class 12th exam this year from government schools affiliated to CBSE, the statement said.