Hello aspirant, hope you are doing good.

So, to answer your question, the money that M.tech students get is called stipend . Many colleges, mostly the IITs, provide stipends to the students are studying M.Tech by qualifying GATE examination. If you have got the seat in the IITs through GATE, you will surely get a stipend, the amount differs in different IITs but is almost between 8k-13k. By chance if you fail in any subject, your stipend will be deducted till you pass that subject.

Hope this helps you. Good Luck !!