THE PANJAB University’s (PU) board of finance department on Monday approved of a proposed budget of Rs 515.61 crore for the 2017-18 fiscal. The estimated deficit for 2017-18 is Rs 244.29 crore against Rs 217.73 crore in 2016-17. The total estimated income from all sources will be Rs 271.33 crore.
The expenditure on the salary and retirement account would be Rs 424.64 crore and non-salary Rs 90.96 crore. Expenditure on salary and pension was Rs 391.01 crore in the current financial year (2016-17) and non-salary expenditure Rs 82.68 crore.
The total expenditure during the current fiscal is pegged at Rs 473.72 crore.
The income of PU, which was Rs 256.00 crore during the ongoing fiscal, has been pegged at Rs 271 crore during the next fiscal. Incidentally, the university is facing a huge financial crisis.
It has been repeatedly approaching the Centre for additional grant to to cover the deficit. However, it did not get much help despite the PU chancellor personally speaking to Union Finance Minister Arun Jaitley in this regard.
PU is also waiting for the release of Rs 30-crore grant from UGC.
The direction to release the grant has been given by the Punjab and Haryana High Court. In the current fiscal, the university has proposed a hike in various fees and other charges to show an increase in income as desired by the Ministry of Human Resource Development (MHRD) and UGC.
Both these bodies had asked PU to increase its income in direct proportion to the fiscal help being given by the Centre.
Furthermore, class C employees have been given extension till June 30 according to MHRD and UGC.
Scholarship budget raised for colleges under PU
Dean College Development Council (DCDC) at a meeting on Monday also increased the scholarship budget for colleges under Panjab University.
Earlier, the budget for scholarship was Rs 30 lakh which has now been increased to Rs 50 lakh for students. A total of 1,076 students will get scholarships that include students suffering from cancer and physically challenged.
Minimum scholarship given given by PU to students is Rs 5,000 to Rs 11,000. Moreover, a separate budget of Rs 10 lakh was also approved for college seminars and workshops.