Panjab University (PU), Chandigarh, Senate today passed the budget of Rs. 506.55 crore
for the 2014-15 fiscal year.

PU Senate approved the PU Syndicate proposal of the PU budget. As per the budget
estimates, PU is expected to earn revenue of Rs. 224 crore during 2014-15. Out of this
amount 71.44 crore is expected through sponsored research, Rs. 22.44 crore through USOL,
Rs. 47.82 crore through self finance courses, 68.35 crore through exam fees and 14.80
crore through other resources. Various PU Senate members expressed the need for more
liberal funding from the Union and Punjab Governments so that the research work of the
premier University of the country is not adversely affected.

Addressing the meeting PU VC Prof Arun K. Grover said that PU has received Rs. 110
crore as interim grant and the remaining amount of Rs. 53 crore to meet the deficit is
in pipeline. It was informed in the meeting that PU has shifted to zero based budgeting,
which was earlier on incremental method. Some standard budget heads have been created
and the budget is based on actual requirements. It was told that austerity measures
implemented by the University have resulted into lesser expenditure than the projections
in the previous year budget estimate.

PU Senate decided to refer back the proposed fee hike in tuition fee to a new Fee
Committee, to be formed by the Syndicate, so that the provisions for economically weaker
and deserving sections of the students could be made. It was also decided that the
Scholarships/Stipends available for minorities and other weaker sections of the society
as provided by various Ministries and Departments would be facilitated for the students
by the University. Though, the Senate members noted that
there has been no fee hike since 2007-08, Senate recommended to take a considerate perspective on the fee
hike issue in view of the prevailing conditions and concerns expressed by the students.

The Fee Committee would consult a broad spectrum of the campus students including the
members of the PU Campus Students Council before making its fresh recommendations.