PU finance panel to decide on increase in budget today

Tribune News Service

Chandigarh, July 15

The Board of Finance (BoF), Panjab University, will decide on a proposal of estimated increase of 5.4 per cent in the budget for the financial year 2019-20, here on Monday.

The PU has proposed an expenditure of Rs 577.97 for the next session. The internal income estimated for the year has also been increased by 5.4 per cent.

The university last year had a deficit of around Rs 29 lakh. As per estimate for 2019-20, the income is pegged at Rs 307.10 crore.

The University Grants Commission (UGC)’s grants will increase from Rs 220 crore in the 2018-19 to Rs 233 crore in the 2019-20. The Panjab Government’s grant is estimated to be Rs 36.33 crore.

For the 2018-19 budget, the PU projected additional liability of Rs 100.12 crore if the seventh pay commission was brought in.

For 2017-18, the Punjab Government is paying Rs 27 crore, and for 2018-19, the PU is seeking Rs 28.62 crore, with a rise of six per cent.

Earlier in February, in a meeting of the Board of Finance, the Punjab Government had agreed to meet the deficit. Earlier, the Ministry of Human Resource Development (MHRD) had communicated that Punjab will meet the pending deficit.