year since its inception in 1954, the Sahitya Akademi awards prizes
to the most
outstanding books of literary merit
published in any of the major Indian languages recognised by it. The award
carries a monetary component
and a plaque. The award amount, which was Rs.5,000 since inception, had been enhanced to Rs.10,000 from 1983, Rs.25,000 from 1988, Rs.40,000 from 2001, Rs.50,000 from 2003 and is now Rs.1,00,000 from 2009.