The scheme was launched from the year 1991-92 with the objective of honouring most outstanding sportspersons to enhance their general status and to give them great dignity and place of honour in society. Under this scheme, an amount of Rs. 1.00 lakh is given as award for the most spectacular and outstanding performance in the field of sports by an individual sportsperson or a team. The award for the year 1994-95 was jointly given to Cdr. Homi D. Motiwala and his crew Lt. Cdr. P.K. Garg for their glorious career and outstanding achievement in the field of Yatching on 29.8.95 by the President of India at Rashtrapati Bhawan.

Arjuna Award

The Arjuna Award was instituted in 1961 as the highest national recognition of distinguished sportspersons. The awardee is given a bronze statuette of Arjuna, a scroll, and a cash prize along with a monogram, a blazer and a tie. During the year 1994, the amount of cash prize to the winner of the Ariuna Award was Rs. 50.000/ 241. Arjuna Awards for the year 1994 were Presented by the president of India to 8 outstanding sportspersons at Rashtrapati Bhawan on the 29th August, 1995.

Dronacharya Award

Dronacharya Award was instituted in 1985 to honour eminent coaches who have done outstanding and meritorious 'work on consistent basis, to motivate them to dedicate themselves with a singularity of purpose for raising the standards of sportspersons to highest performance in international events and bring glory to the country. The award is given to those who have produced outstanding achievements consistently during three years preceding the Award. Those who have contributed their life time to sports and sports promotion are also considered for this award. During the year 1995-96, this Award was given to Md. Ilyas Babar for his contribution to the discipline of Athletics. Every awardee is given a cash prize of Rs. 75,000/ alongwith a bronze statue of Dronacharya, a scroll, a suit, a blazer and a tie.