The panel, set up by Finance Minister Sudhir Mungantiwar, will be headed by Principal Secretary (Financial Reforms) and have members from other departments.
Government departments like School Education, Higher and Technical Education, Social Justice and Special Assistance and Tribal Development are currently offering a slew of scholarships to students under various schemes.
"With a view to review all such schemes as well to examine feasibility of establishing certain criteria for eligibility of the students and schools, colleges and course which benefit from such schemes, Mungantiwar has constituted the committee," an official from the Finance Department said today.
"The committee has been entrusted with the task of suggesting measures to determine the criteria for students to be given free scholarships as well as getting information on schools and colleges that will be eligible to implement these schemes," the official said.
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The panel will also recommend steps to bring transparency
in funding of these schemes and improving their efficiency, he added.
The Finance Minister had tabled a 'White Paper' (a Government report) on financial position of the State in the Budget session of the legislature in March.