The Panjab University (PU), board of finance approved a budget of `555.30 crore for the 2015-16 fiscal year, on Thursday. The budget would now be considered by the PU Syndicate.
PU vice chancellor, Prof Arun Kumar Grover presided over the meeting, which was also attended by the PU registrar, Col GS Chadha (retd), dean (university instructions) Prof A K Bhandari, finance and development officer Vikram Nayyar, Punjab additional secretary (finance) Gunitej, UT administration special secretary (finance), Bhawna Garg and syndicate and senate representatives.
As per the budget estimates, PU is expecting to earn revenue of `245.93 crore during 2015-16. Out of this amount, `75.41 crore is expected through sponsored research projects and schemes, `23 crore through aided courses including USOL, `49.04 crore through partially self finance courses, `80.01 crore through exam fees and `18.46 crore through other resources.
PU Board of Finance also approved the construction of a new girls' hostel (no. 10), in which 100 beds would be earmarked for sports students. The BoF also approved a sum of `1.27 crore for rewiring; `2 crore for renovation of toilets of academic blocks and other buildings; `45 lakh for creating additional parking space in PU campus; `98.79 lakh for renovation of A type houses and one room flats; `45.15 lakh for renovation of Golden Jubilee Guest House; `72 lakh for installation of elevators at USOL and a hostel for research students; `25 lakh for digitalization of office record and purchase of computers and other peripherals and `1.93 crore for infrastructure requirements of various departments.
PU VC, Grover said that PU has received `100 crore and the second installment of `33 crore is in process and is expected to be received before the end of this month.
The budget divide
Rewiring: `1.27 crore
Renovation of toilets: `2 crore
Parking space: `45 lakh
Renovation of A type houses: `98.79 lakh
Renovation of Golden Jubilee Guest House: `45.15 lakh
Installation of elevators: `72 lakh
Digitalization of office record: `25 lakh
Infrastructure requirements: `1.93 crore