Panjab University’s (PU) board of finance has cleared the estimated budget of ₹868.48 crore for the 2025-26 session and the revised estimate of ₹815.71 crore for the 2024-25 academic year.
The finance board meeting, which was presided over by PU vice-chancellor Prof Renu Vig, saw the participation of UGC financial adviser Sudeep Singh Jain who is nominee of the Union ministry of education; Rakesh K Sharma, nominee of the Punjab department of higher education and languages; and Jasbir Singh, nominee of the Chandigarh finance secretary; among others.
As per the budget estimates, PU is expecting to earn a revenue of ₹383.69 crore during 2025-26, which is ₹85.67 crore more than the 2023-24 fiscal year. Out of this amount, ₹96 crore is expected through fees from partially self-financed courses, ₹23 crore through CDOE (formerly USOL), ₹167 crore through exam fees, ₹26 crore from fees from university teaching departments, ₹36 crore from registration/certificate/CET fee etc, ₹12.80 crore from hostels, ₹5.10 crore from sports fees and ₹12.57 crore through other resources like interest, late admission fees and sale of admission forms. An amount of ₹388.84 crore is to be received from the UGC and ₹95.92 crore from the Punjab government in 2025-26.
The board of finance has also approved the recommendations by PU’s Pension Committee for those who retired from December 1, 2011, to February 7, 2021 under which the benefit will be re-fixed as per the amendment of the regulation 4.3 in Punjab in the light of a related judgment by the Punjab and Haryana high court. This is for those who weren’t petitioners in the original case and will lead to financial liability of ₹16.47 lakh per month approximately. The agenda for granting notional annual increment on retirement for the purpose of calculation of pension was also approved.
{{/usCountry}}The board of finance has also approved the recommendations by PU’s Pension Committee for those who retired from December 1, 2011, to February 7, 2021 under which the benefit will be re-fixed as per the amendment of the regulation 4.3 in Punjab in the light of a related judgment by the Punjab and Haryana high court. This is for those who weren’t petitioners in the original case and will lead to financial liability of ₹16.47 lakh per month approximately. The agenda for granting notional annual increment on retirement for the purpose of calculation of pension was also approved.
{{/usCountry}}Meanwhile, the board of finance has recommended formation of a committee to look into restructuring the posts of pharmacy cadre on the pattern of the Punjab government. Regarding the supplementary agenda on whether past services will be taken into consideration for eight assistant professors for the purpose of Career Advancement Scheme (CAS) promotions as per the University Grants Committee (UGC) regulations, the members said they didn’t get enough time has to study this issue and they would take it up in a further meeting.