Despite fee hike, IIT-Bombay will still lose Rs8.35 crore a year, report reveals
Mumbai city news: The institute’s major recurring expenses have increased almost threefoldmumbai Updated: Jul 10, 2017 23:43 IST
In the past six years, the central government’s non-plan funds allotted to Indian Institute of Technology Bombay (IIT-B) have shrunk from Rs3 lakh to Rs2 lakh a student, when adjusted for inflation, reveals a report issued by the institute on Friday.
The paper, which details the premier institute’s finances over the years, was issued in response to an ongoing protest by IIT-B students against the recent increase in fees charged for the hostel, mess, gymkhana and medical services.
IIT-B justified the non-tuition fee hike by saying that despite it, the institute still incurs an annual deficit of around Rs8.35 crore, or 20% of its total expenditure on these services.
The document shows that the non-plan grants from ministry of human resource development (MHRD) have increased from less than Rs200 crore in 2010-11 to more than Rs300 crore . During the same period, the non-plan expenditure, which includes salaries of the staff, maintenance, repairs and other academic and administrative expenses, has grown from above Rs200 crore to more than Rs400 crore.
Major recurring expenditures, which include electrical maintenance, housekeeping, waste management, repairs, gymkhana, medical expenses, hostel expenses, examination and convocation, have increased almost threefold from Rs15.62 crore in 2011 to Rs42.35 crore in 2017.
Meanwhile, IIT-B’s internal earnings have doubled in the past five years, owing to an increase in the number of students, from 6,000 to 10,000 during this period. However, there was hardly any change in either tuition fees or non-tuition charges.
The institute has argued that it needs to increase non-tuition fees to keep its finances stable. It has also cited the general financial rules of the central government that encourage autonomous institutes to maximise their internal resources and eventually attain self-sufficiency. The document also notes that the MHRD draft memorandum of understanding (MoU) with IITs states that apart from MHRD allocation, the premier institutes will raise funds through fees and other charges.
First Published: Jul 10, 2017 13:03 IST