A total of 27 prizes will be given. The first prize will be of Rs 10 lakh, second prize is Rs 7.5 lakh while 25 people will get Rs one lakh each.
"Fiscal discipline is must to improve financial condition," Finance Minister Sudhir Mungantiwar told PTI.
He said suggestions will be invited to reduce revenue expenditure, Improving production, reducing revenue deficit and employment generation.
A committee will be set upto screen the suggestions made. The scheme will be publicised on "aple sarkar" web portal and also in newspapers. The committee will comprise principal secretaries of planning,finance and revenue.