In the coming financial year 2014-15, the financial condition of Punjabi University is likely to deteriorate with an increase of 34 percent in its expenditure against a hike of just 6.5 percent in university’s income.
The budget for 2014-15 financial year approved by university syndicate reveals that against an expected income of`280.44 crore, the university’s expected expenditure has reached upto R 437.80 crore.
The deficit budget of R157 crore has exposed the unhealthy approach adopted by the university authorities.
Due to the wrong policies of the university authorities, including recruitments done in the past years to accommodate their favorites in the university and the failure of the state government to provide adequate funds, the deficit of the university, which was R 63.37 crore last year, has gone up to R93.99 crore in the coming financial year.
Comparing the figures with last year, university’s income saw an increase of Rs. 17.28 crore with expected income of Rs. 280.44 crore in coming year against Rs. 263.15 crore in the last year. Meanwhile, the expenditure has witnessed a hike of Rs. 111.26 crore with Rs. 326.53 crore in last year against Rs. 437.8 crore expected in the coming year.
The university expenditure has recorded an increase of Rs. 173 crore in the past three years. It was Rs. 264 crore in 2011-2012. The university had presented a surplus budget of Rs. 7.23 crore in 2011-2012.
Besides paying dear ness allowance instalments every year, a major part of coming year’s budget would go into payments of salaries.
A sum of Rs. 41.71 crore will be spent on giving salaries to nonteaching employees.
As compared to the payments of Rs. 118 crore to the teaching faculty last year, the university is going to pay R 185 to the teachers in the coming year.
Aimed to promote Punjabi language, the university will spend around Rs. 8.50 crore on the development of Punjabi language in the coming year.`
The university has also put provision of repaying loan worth Rs. 8.54 crore in coming years which it had taken from different banks for the construction of different buildings, including University College of Engineering (UCoE), management and technology bhawan, and loan taken for meeting expenditure of UCoE at Talwandi Sabo and Rampura Phul.