Can I get any scholarship for initiating my part in the group project in under graduate engineering?
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If it's a research project some IITS and NITS provide you the funding for the project.
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Hey aspirant
It depends on the college in which you are pursuing graduation. Although most of the colleges don't give scholarships on projects, the projects help you for internships later you'll be required to work in.
For any other doubts, feel free to ask.
Thanks. All the best!