The new version is being developed by two state-owned technology companies that were brought on board after the ministry faced problems with the tablet's original developer - Datawind.
"The upgraded Aakash will be fabulous. The processor will be 700 mega watts, the live battery would be of three hours uninterrupted, you will have a capacity screen. We will unveil it in May," Sibal said on the sidelines of a seminar organized by the Indian Chamber of Commerce (ICC).
Datawind, the tablet's initial developer, had come under criticism for missing delivery deadlines and for failing to provide a proper customer service platform.
The government was also unhappy after various faults were detected in the tablet, and officials had indicated that the government may not extend the contract for manufacture of more tablets to Datawind.
"Aakash 2 will also go through quality tests. Only when we feel that quality is clear, and that children will accept, then only we will commercialise it," Sibal said.
The tablet is currently priced at about Rs 2,414.
With inputs from IANS