Nobel Prize reduces prize money to the winners
Posted On 10 Oct 2012
A statement released by the Nobel Foundation announced, this morning, a 20% cut of the financial allocations to be given to the winners.
This year, the winners in the six categories: Medicine, Chemistry, Physics, Literature, Economics and Peace, will receive a prize money of $ 1.1 million.
In previous years, the financial allocation was $ 1.4 million. According to the BBC, the cut is looking to maintain the viability of these long-term awards.