Ramanujan Prize for Young Mathematicians:

The Ramanujan Prize for young mathematicians from developing countries has been awarded annually since 2005.

Who is the prize awarded to? The prize is given to an eminent Mathematician who is less than 45 years of age on 31 December of the year of the award and has conducted outstanding research in developing countries

Administered by: The Prize is administered by the Abdus Salam International Centre for Theoretical Physics (ICTP) jointly with the Department of Science and Technology (DST) Government of India and the International Mathematical Union (IMU).

Sponsored by: Department of Science and Technology, Government of India (DST).

ICTP: It was founded in 1964 by the late Nobel Laureate Abdus Salam. It seeks to accomplish its mandate by providing scientists from developing countries with the continuing education and skills that they need to enjoy long and productive careers.

IMU: It is an international nongovernmental and nonprofit scientific organization with the purpose of promoting international cooperation in mathematics.
Why in News?
Professor Neena Gupta, a mathematician at the Indian Statistical Institute in Kolkata has been awarded the 2021 Ramanujan Prize for Young Mathematicians from developing countries. She was awarded for solving the Zariski cancellation problem.
What is the Zariski cancellation problem?

It is one of the world’s greatest math problems. It is a fundamental problem in Algebraic Geometry. The problem was posed by one of the most eminent founders of modern Algebraic Geometry, Oscar Zariski, in 1949. He was one of the founders of modern Algebraic Geometry.

Neena Gupta solved this problem which is considered as one of the best works in algebraic geometry in recent years done anywhere.