Panjab University’s finance panel okays ₹752- crore budget for 2023-24
Speaking about the budget, Panjab University finance and development officer Vikram Nayyar said the varsity had received around ₹90 crore more this time as compared to the previous session
Panjab University’s Board of Finance (BoF) on Wednesday cleared a revised expenditure estimate of ₹752.2 crore for the 2023-24 session and ₹789.6 crore for the 2024-25 session.
Of the total expenditure for the current session, ₹316.5 crore will be met through internal income. Further, ₹346 crore will come from the University Grants Commission (UGC) as annual maintenance grant and another ₹85.37 crore will be received from the Punjab government. The state government will also pay ₹4.25 crore shortfall from previous year.
For the 2024-25 session, to generate ₹789.6 crore, ₹332.3 crore will come from internal income and ₹457.3 crore will be annual maintenance grant, including ₹366.8 crore from UGC and ₹90.5 crore from Punjab.
Speaking about the budget, PU finance and development officer Vikram Nayyar said the varsity had received around ₹90 crore more this time as compared to the previous session. “The extra amount is for the revised pay scales as per the 7th Pay Commission. The budget under other heads will mostly be the same,” he said.
The revised budget will be enough to meet the salaries of teachers. However, ₹278 crore needed to pay the arrears since 2016 are still pending, and the university has asked the central and Punjab governments for a one-time grant.
PhD increment incentive scheme put on hold
Meanwhile, the PhD increment incentive scheme, which was to be reintroduced, has been put on hold for now. Representatives of the Punjab government said the government was looking to restart the scheme and asked for some time for this.
UGC considering enhancement of annual grant
The request for enhancement of annual grant from ₹294.8 crore to ₹346 crore as per revised estimate for 2023-24, with 6% annual enhancement, is under consideration of the Union ministry of education.
The Punjab government, in principle, has agreed for enhancement of annual grant to ₹85.4 crore as per revised estimate, which will be incorporated in the revised estimate of government of Punjab.
The BoF members also approved the enhancement of emoluments to various medical officers working on contract or part time. The members also cleared the enhancement of pension for those who retired between January 2006 and December 2011 as per a 2019 Punjab government notification.
The revision of stipend for apprenticeship, and revision of pay scale of contractual and temporary employees also got the board’s nod. All decisions are subject to further approvals from the syndicate, PU’s executive body, and senate, varsity’s apex governing body.
