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As much as Rs 12,106 crore (Rs 121.06 billion) was disbursed as educational loans to needy students last fiscal, Union Finance Minister P Chidambaram said in Sivaganga, Tamil Nadu on Friday.
Through efforts taken by the Union government, the amount distributed as educational loans has tripled in 2005-06, compared to the previous fiscal, he said while inaugurating a new Kendriya Vidyalaya in Sivaganga, his Lok Sabha constituency.
For the development of Kendriya Vidyalayas, the Centre had allocated Rs 850 crore (Rs 8.5 billion) in 2005-06, he said.
"I never had the opportunity to study in a Kendriya Vidyalaya. Now such schools are common in the country and Sivaganga district has two of them," Chidambaram said.
The government has ensured that mid-day meals are being provided to 12 crore (120 million) students across the country, he added.
Tamil Nadu Hindu Religious and Charitable Endowments Minister K R Periyakaruppan was also present at the function.