Announcing the award while felicitating the World Cup Indian Under-19 team, he said the selectors of the senior and junior team would get Rs one crore each for their great work.
Mr Pawar said the Indian team would arrive in Mumbai tomorrow and would be given a grand reception in New Delhi on March six.
He also disbursed cheques the Rs 15 lakh each to the Under-19 team and said it was a different day for Indian cricket.
"Our seniors have beaten the World Champions in their own den.
They displayed extraordinary sportsmanship and the colts have put an icing on the cake," he said.
He said while defeating Australia the Indian team had displayed great sportsmanship. Tendulkar not complaining after hit by a Bret Lee beamer was an example, he said.