Kumar's initiative, wherein he provides free residential coaching to 30 talented students from underprivileged families every year, has been globally lauded.
The award consists of a prize of Rs 3 lakh.
Previous recipients of the award are actress Waheeda Rahman, cricketer Kapil Dev, vocalist Pandit Jasraj and film producer Yash Chopra.
Kumar announced that the prize money would be distributed among the students of his coaching programme.
"When I started a small initiative for underprivileged children more than a decade ago, it was never in my mind that it would one day fetch me awards. I am happy that my initiative has helped many children successfully chase their dreams," he said, speaking on this occasion.
