Assuming India has 250 Million students who could make use of such a device. If every one of them is given this tablet:

250 Million * $35 (will probably be even lesser when produced in such a massive quantity) = ~9 Billion USD

Add distribution and other chores.. takes it to ~10 Billion USD.

To add some perspective, India's infamous 2G scam is 5 times bigger than that.

[Edit]: Costs could go even lower if the device is ad supported, like kindle.