WAVES has initiated prizes for outstanding papers presented during annual conferences by young scholars and research students to encourage research and deep study of Vedas and Indian Scriptures.

In 23rd India Conference, WAVES announced "Svargiya Mrs. Sulochana M. Goel Memorial Award-2019" to five outstanding research papers by young scholars:

1. I Prize (Rs.4000/-) Dr Harikrishna Sharma K.N., Kalady, Kerala
2. II Prize (Rs.3000/-) Mr. Kaustubh Gaurh and Mr. Abhishek Parashar, DU, Delhi
3. III Prize (Rs.2000/-) Ms. Priyanka Rastogi, Banasthali Vidyapeeth, Rajasthan
4. Encouragement Prize (Rs.500/-) Ms. Pragya Ghosh, DU, Delhi
5. Encouragement Prize (Rs.500/-) Ms. Madhusmita Deka, LBSRSV, Delhi

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In 22nd India Conference, WAVES announced 'Svargiya Mrs. Kusum Sharma Memorial Award-2018' to five outstanding research papers by young scholars:

1. I Prize (Rs. 3000/-) Ms. Khushboo Shukla, JNU
2. II Prize (Rs. 2000/-) Dr.Udita Bhattacharya, K.K.H.G.S.C, Guwahati
3. III Prize (Rs. 1000/-) Dr. Ashok Kumar, JNU
4. Encouragement Prize (Rs.500/-) Dr. Rishiraj Pathak, DU
5. Encouragement Prize (Rs.500/-) Mr. Yogendra Bhardwaj, JNU

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In 21st India Conference, WAVES announced 'Svargiya Shri Rameshwer Das Gupta Memorial Award–2017' to Eight outstanding research papers by young scholars:

1. I Prize (Rs. 3000/-) Mr.Tahasin Mondal, AMU, Aligarh
2. I Prize (Rs. 3000/-) Ms. Sandhya Gupta, JNU, Delhi
3. II Prize (Rs. 2000/-) Ms. Niharika, JNU, Delhi
4. II Prize (Rs. 2000/-) Ms. Nandini Das, JNU, Delhi
5. III Prize (Rs. 1000/-) Mr. Neeteesh Kumar, DU, Delhi
6. III Prize (Rs. 1000/-) Dr. Rishiraj Pathak, SPM College, DU, Delhi
7. Encouragement Prize (Rs.500/-) Dr. Sangeeta Sharma, NCERT, Delhi
8. Encouragement Prize (Rs.500/-) Dr. Arpita Chakraborty, Dibrugarh University, Assam

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In 19th India Conference, WAVES announced 'Svargiya Smt. Dhanno Devi Memorial Award-2015' to Seven outstanding research papers by young scholars:

1. I Prize (Rs. 3000/-) Mr. Subramanian Chidambaran, University of Mumbai.
2. II Prize (Rs. 2000/-) Ms. Rumi Kaman, Gauhati University.
3. III Prize (Rs. 1000/-) Dr. Rishiraj Pathak, Delhi.
4. III Prize (Rs. 1000/-) Sh. Vikas Sharma, University of Delhi, Delhi.
5. Encouragement Prize (Rs. 500/-) Dr. K.Geetha, Hyderabad.
6. Encouragement Prize (Rs. 500/-) Dr. Abhijit Dixit, JNU.
7. Encouragement Prize (Rs. 500/-) Mr. Tahasin Mondal, AMU, Aligarh.

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In 18th India Conference, WAVES announced 'Svargiya Smt. Kanta Shukla Memorial Award-2014' to Six outstanding research papers by young scholars:

1. I Prize (Rs. 3000/-) Sh. Prem Vallabh Deoli, Delhi University, Delhi
2. II Prize (Rs. 2000/-) Sh. Veloori Raghu Ram, Osmania University, Hyderabad
3. III Prize (Rs. 1000/-) Ms. Preeti Verma, University of Delhi, Delhi
4. III Prize (Rs. 1000/-) Ms. Priyanka Arya, Banaras Hindu University, Varanasi
5. Encouragement Prize (Rs. 500/-) Sh. Vikas Sharma, University of Delhi, Delhi
6. Encouragement Prize (Rs. 500/-) Sh. P.S. Santosh, Osmania University, Hyderabad

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In 17th India Conference, WAVES announced 'Svargiya Smt. Chandravati Sharma Memorial Award-2013' to Seven outstanding research papers by young scholars:

1. I Prize (Rs. 3000/-) Dr. Saroj Kumar Shukla, Lucknow University, Lucknow
2. II Prize (Rs. 2000/-) Dr. Aparna Dhir, Rashtriya Sanskrit Sansthan, Delhi
3. III Prize (Rs. 1000/-) Dr. Karuna Arya, University of Delhi, Delhi
4. Encouragement Prize (Rs. 500/-) Dr. Abhimanyu Singh, Lucknow University, Lucknow
5. Encouragement Prize (Rs. 500/-) Ms. Rakshita, University of Delhi
6. Encouragement Prize (Rs. 500/-) Ms. Pooja Gautam, Dayalbagh Institute, Agra
7. Encouragement Prize (Rs. 500/-) Ms. Sanskrita Mishra, Lucknow University, Lucknow

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In 16th India Conference, WAVES announced 'Smt. Kasturi Devi Gupta Memorial Award' to Six outstanding research papers by young scholars:

1. I prize (Rs. 3000/-) Dr. Harsha Kumari, University of Delhi, Delhi
2. II prize (Rs. 2000/-) Dr. Pratap Chandra Roy, University of Calcutta, Kolkata
3. III prize (Rs. 1000/-) Sh. Vikas Singh, JNU, Delhi
4. III prize (Rs. 1000/-) Ku. Sharda Gautam, JNU, Delhi
5. Encouragement prize (Rs. 500/-) Sh. Hariom Sharan Mudgal, University of Delhi, Delhi
6. Encouragement prize (Rs. 500/-) Dr. Aparna Dhir, Rashtriya Sanskrit Sansthan, Delhi

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In 15th India Conference, WAVES announced 'Smt. Kasturi Devi Gupta Memorial Award-2012'. About 48 young scholars presented papers in the conference. Among them eight outstanding research papers of young scholars were awarded :

1. I prize (Rs 3000/-) Ms. Anjaly Pankajakshan, SSUS, Kalady, Kerala
2. II prize (Rs 2000/-) Ms. Soumya Balan, DSS, University of Hyderabad, AP
3. III prize (Rs 1000/-) Ms. Monica K. Rathor, SCSS, JNU, Delhi
4. Encouragement prize (Rs 500/-) Mr. Ashok Kumar, SCSS, JNU, Delhi
5. Encouragement prize (Rs 500/-) Ms. Ashitha R.K., SSUS, Kalady, Kerala
6. Encouragement prize (Rs 500/-) Ms. Ruchi Singh, OS, DSVV, Haridwar, UK
7. Encouragement prize (Rs 500/-) Mr. Rishraj Pathak, Skt, DU, Delhi
8. SPECIAL PRIZE (Rs.1000) Dr. Sampadanada Mishra, Pondicherry

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In 13th India Conference, WAVES announced 'Shri Premnath Goel Memorial Award-2009' to eight researchers for presenting outstanding research papers:

1. I prize (Rs 3000/-) Dr. Medha Sachdev, Aligarh, Uttar Pradesh
2. II prize (Rs 2000/-) Ms. Vasundhra, Delhi
3. III prize (Rs 1000/-) Dr. Karmveer Arya, Moradabad; Uttar Pradesh
4. Encouragement prize (Rs 500/-) Mr.Tej Pratap Kushwaha, Delhi
5. Encouragement prize (Rs 500/-) Km. Harsh Khatri, Haridwar, Uttrakhand
6. Encouragement prize (Rs 500/-) Dr. Dolly Jain, Bansathali, Rajasthan
7. Encouragement prize (Rs 500/-) Mr. Hareti Lal Meena, Delhi
8. Encouragement prize (Rs 500/-) Mr. Kailash Chandra, Delhi

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For the 12th India Conference, prizes for young researchers were instituted by Professor Surendra Dwivedi, USA. About thirty five young scholars presented papers in the conference. Among them following four were awarded 'Dr. Surendra Dwivedi Prizes' :

1. I prize (Rs 2000/-) Dr. Archana Kumari Dubey, Bansathali, Rajasthan
2. II prize (Rs 1500/-) Mr. Chandan Kumar Mishra, Delhi
3. II prize (Rs 1500/- ) Mr. Subhash Chandra, Kotdwar, Uttrakhand
4. III prize (Rs 1000/-) Mr. Shobit Singh, Lucknow, Uttar Pradesh

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In the 11th India Conference again Professor Sharma sponsored award, and over all fifty five research students from different Universities of India participated. Among them following seven Researchers were awarded:

1. I Prize (Rs. 2000/-) Ms. Deepshikha Srivastava, Lucknow, Uttar Pradesh
2. I Prize (Rs. 2000/- ) Dr. Virma Sharma, Delhi
3. II Prize (Rs.1500/-) Mr. Harish Chandra Gururani, Haridwar, Uttrakhand
4. II Prize (Rs.1500/-) Ms. Deepali Mittal, Delhi
5. III Prize (Rs.1000/-) Mr. Ram Ratna Khandelwal, Haridwar, Uttrakhand
6. III Prize (Rs.1000/-) Ms. Rekha Gupta, Bansathali, Rajasthan
7. III Prize (Rs.1000/-) Mr. Abhimanyu, Delhi

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During the 10th India Conference eight research students were awarded one thousand rupees each by Professor Bhudev Sharma.