The enhancement of the prize amount would come into effect from the 2014 award year.
"From the award year 2014 onwards, each awardee will be given a certificate, a 40-gm silver medal with name inscribed and a cash prize of Rs 50,000," a statement said.
Every year, the national award to teachers are handed out by the President on Teacher's Day on Sept. 5 in recognition of their meritorious work in primary, middle and secondary school.
Classroom teachers with at least 15 years of regular teaching experience and headmasters with 20 years of regular teaching experience are considered for the award.