Chandigarh: If granted the status of the 'Institution of Eminence', Panjab University's
expenditure will increase by around Rs 200 crore for the 2018-19 fiscal year. This will include expenditure of Rs 100 crore against special grant under the scheme of 'Institution of Eminence'. With this, the university's research will get a boost of Rs 167 crore.
A major portion of this expenditure would be fixed for academic purposes. While the university plans to spend Rs 276.75 crore on academics, Rs 237.19 crore would be spent for administrative purpose in the next fiscal year.
The expenditure will also include salary of newly recruited 45 faculty members which would amount to Rs 11.25 crore in the 2018-19 year. According to the data submitted to the ministry of human resource and development (MHRD), Rs 2 crore would be set aside specifically for research support to the faculty members.
"A significant part of the expenditure would be spent on research because the expenditure for the new faculty hiring will be met by Rs 100 crore that the government will give us. Of these 100 crore, we would need only Rs 35 to Rs 40 crore for the faculty. There will be a lot of money for research and growth.
This 100 crore of what the government gives us will be utilized to make buildings, research and creating infra for research," said director of internal quality assurance cell (IQAC), Prof M Rajivlochan.
According to the research plan, the university plans to establish a centre of excellence for drug development based on Indian system of medicine and Centre for Excellence in NanoBioMedicine Translational Research.
Moreover, the university in its proposal has also kept a grant of Rs 8 crore for setting up a neurophysiology and neuroscience research centre within the university.
As per the financial plan of the university, the expenditure for the year 2019-20 is estimated to show an increase by around Rs 22 crore.
The university has also chalked out the financial plan beyond five fiscal years (2022-23).
According to the plan, the average yearly planned expenditure after 2022-2023 comes around to be Rs 973.29 crore.
However, according to the proposal submitted, if the university gets the world class status, the university's revenue would be at par with the university's expenditure, making the varsity deficit free. While the university has estimated an expenditure of Rs 757 crore, the revenue, including Rs 100 crore from the MHRD for being an institution of eminence, is also estimated to be around Rs 758 crore.
