Punjabi University gets special state govt grant of ₹20 crore
PATIALA : Taking serious note of poor fiscal situation of Punjabi University, Patiala, the Punjab government sanctioned a special grant of Rs 20 crore to it on Wednesday. As per budgetary proposals for this fiscal, the varsity expects an income of ₹380 crore, with expenditure at ₹676 crore, leaving a massive ₹296crore deficit. The university also has an overdraft of ₹140 crore, which is expected to touch ₹150 crore by the end of the year.
Finance minister Manpreet Singh Badal chaired the meeting of senior functionaries of finance and higher education departments and varsity vice-chancellor Prof BS Ghuman at Chandigarh to discussed the finances of the varsity. Prof Ghuman apprised the minister about the financial crisis at the varsity and demanded an immediate financial relief package to pay monthly salaries and pensions to its employees.
“Considering the varsity demand, the finance minister has decided to provide an immediate special grant of Rs 20 crore to the university. The finance department, however, has also directed the varsity to control its expenditure and adopt immediate austerity measures,” said Rahul Bhandari, secretary higher education.
Manpreet also directed the university to consult former IAS officer Manjit Singh Narang, who has been appointed as honourary advisor to vice-chancellor, to improve its financial condition. Another meeting will be held in the first week of August in which the vice-chancellor has been instructed to come up with a selfexplanatory roadmap to increase income of the university from its own resources. The varsity has also been asked to submit a report on financial irregularities as mentioned by the Punjab accountant general in its report to the higher education department on June 30.