Punjabi University passes ₹129-cr deficit budget

There has been a major cut in expenditure with budgetary proposals putting it at ₹472 crore, a cut of almost 30% over ₹676 crore last fiscal. The income is also projected to fall by 10%

sh-strapped Punjabi University has passed a ₹129 crore deficit budget for 2021-22 in a meeting held on Monday. In 2020-21, the varsity had recorded a deficit of ₹296 crore, so if achieved, it will be reduced by 60% by the end of this fiscal.

In 2020-21, the varsity had recorded a deficit of ₹296 crore, so if achieved, it will be reduced by 60% by the end of this fiscal. (HT file)

There has been a major cut in expenditure with budgetary proposals putting it at ₹472 crore, a cut of almost 30% over ₹676 crore in the last fiscal. The varsity’s income, however, is also projected to fall to ₹342 crore, a reduction of 10% over ₹380 crore last year.

Officiating vice-chancellor IAS officer Ravneet Kaur, who is also the chairperson of the syndicate, said the budget was realistic. “The budgetary proposals have quoted actual and realistic figures related to both income and expenditure,” the V-C said. She claimed that previous years’ budgets were a farce. “The budget presented by the university authorities in the past financial years carried vague and superficial figures related to its expenses and income,” she claimed.

INCREASE IN GUEST FACULTY 

REMUNERATION WITHDRAWN

On the proposal of the finance committee, the syndicate has also withdrawn the increased rates of the honorarium of guest faculty, presently working on per lecture basis on the varsity campus and its satellite institutions. According to revised rates finalised in March 2020, guest faculty are getting ₹525 per lecture from the previous ₹350 for a 45-minute lecture. For a one-hour lecture, the faculty gets ₹750 per lecture than ₹500 earlier. The rates were enhanced subject to a maximum remuneration of ₹30,000 per month. “An academic review committee has been formed which will verify and assess workload of guest faculty working on the varsity campus,” said a syndicate member on the condition of anonymity.

The university syndicate has finalised a plan on settling ₹120 crore overdraft it has taken to pay salaries. The finance committee proposed that the varsity must pay ₹10 crore starting from October this year till 2023. From 2023 onwards, the university will pay ₹2.5 crore every month for the next three years, it was decided.