"The first centenary award would be given to an Indian or international film for breaking new grounds, whether it is in technique, aesthetics or technology, at the IFFI 2012 which will be held in Goa in November this year," a senior official told PTI.
"The award will also carry a cash component of Rs 10 lakh," the official said.
Films in all categories which participate at IFFI would be eligible for the award.
The IFFI already has several award categories like Best Film, Best Director, Best Actor, Best Actress and the jury may also give its own special awards.
The centenary award is just one the several initiatives that the I&B Ministry is planning to celebrate 100 years of Indian cinema.
The country's first full-length feature film "Raja Harishchandra" was released on May 3, 1913.
