E-Paper
Panjab University financial board to take up budget estimates for 2021-22
Panjab University’s Board of Finance (BoF) will take up the budget estimates of 2021-22 financial year in their next meeting scheduled for December 15.
Panjab University’s Board of Finance (BoF) will take up the budget estimates of 2021-22 financial year in their next meeting scheduled for December 15.
The BoF will also discuss the revised estimates for 2020-21. Last year, the meeting was held in August and the budget was approved by the PU senate in December.
According to the estimates prepared by PU which will be tabled in the next meeting of BoF, an increase in revenue expenditure has been proposed at ₹599.74 crore for 2021-22 as compared to the ₹556.07 crore in the revised estimates of 2020-21.
Also, the total income of the university, including the annual maintenance grants and the supplementary grant under the post matric scholarship (PMS) scheme, has been estimated at ₹599.74 crores for 2021-22.
Revenue estimates
Due to the pandemic, varsity’s income from the fees of examinations dipped to ₹135 crore which was estimated at ₹157.5 crore in the budget estimates of 2020-21. According to the proposed estimates, an income of ₹150.5 crore has been estimated for 2021-22 from the fee of examinations.
According to the estimates, the total internal income of the varsity has been estimated at ₹291.97 crore in 2021-22, which is higher than the revised estimates of 2020-21.
The grant from the University Grants Commission (UGC) is slated at ₹262.34 crore and the grant from the Punjab government has been proposed at ₹34 crore for 2021-22. The income from the partially self-financed departments has been estimated at ₹62 crore and ₹14.75 crore income has been estimated from traditional teaching departments of the university for 2021-22.
Dip in income from hostels in 2020-21
As per the revised estimates of 2020-21 financial year, the income from hostels declined to ₹2 crore which was earlier estimated at ₹11 crore. However, according to the budget estimates of 2021-22, the income from hostels is estimated at ₹11.5 crore.
Estimated expenditure
The expenditure on the salaries of teaching and non-teaching staff has been proposed at ₹366.37 crore in 2021-22, while it has been pegged at ₹350.76 crore in the revised estimate for 2020-21 financial year.
The retirement benefits have been estimated at ₹27.81 crore in 2021-22, which is pegged at ₹22.48 crore in the revised estimate of 2020-21. Moreover, the expenditure on the conduct of examinations is estimated at ₹34.33 crore in 2021-22 as compared to ₹26.73 crore in the revised estimate of 2020-21.
