ICT R&D fund has started sponsoring final projects of students. This is an initiative which aims at supporting young students in last leg of their studies to get some financial aid in completing their final projects. If you are a student starting or already doing your final project you can apply for the grant.
Deadline to apply is 18th January 2013 and submissions are to made in post (not online) so if you are interested you should start now.
Funding is for a max of 75 thousand rupees, out of which 65,000 are for equipment while the rest is for miscellaneous activities. This is a good opportunity if you intend to do something big in your final project. And as far as I know final project is your best opportunity at showing the world what you are capable of and ICT R&D fund helps if your dream project is short on finances.
More details can be found here