The team will go on a victory march to the Wankhede Stadium in Mumbai © Getty Images Enlarge

The Indian team has been awarded a bonus of US$ 3 million by the Board of Control for Cricket in India for their victorious campaign in the ICC World Twenty20. Sharad Pawar, the BCCI president, also announced a cash award of Rs 1 crore [US$ 253,000] to Yuvraj Singh for hitting six sixes in an over in the match against England.

The team, which will land in Mumbai on Wednesday morning, will go on a victory march to the Wankhede Stadium where they will be received by Pawar and be presented the prize-money. Pawar appealed to the people and former cricketers to join the march to provide a fitting welcome to the team.

Each of the team's support staff will be awarded Rs 15 lakh [US$ 38,000] for their efforts. India beat Pakistan by five runs in a thrilling final in Johannesburg.

Meanwhile, a few state governments too have chipped in with cash rewards for its players. Joginder Sharma, who took the wicket of Misbah-ul-Haq to seal the victory, is set to receive a cash reward of Rs 21 lakh [US$ 52,920] from Haryana chief minister Bhupinder Singh Hooda. Maharashtra chief minister Vilasrao Deshmukh has announced a cash reward of Rs 10 lakh each [US$ 25,250] for Mumbai players Rohit Sharma and Ajit Agarkar. Rohit Sharma was one of the biggest finds for India after playing crucial roles in the victories over South Africa and Pakistan in the final.

Air India, the international airline which employs six players in the squad, announced out-of-turn promotions for each of them. Praful Patel, the civil aviation minister, said that all the 15 members of the winning squad and their family members would also be given additional free travel benefits for five years.

The team lost just one match, against New Zealand, in the Super Eights. Following the defeat, the side knocked hosts South Africa out of the tournament and Australia in the semi-final.