OU presents Rs 563.43 Cr budget
Hyderabad, March 27 (INN): The Osmania University on Friday presented its budget of Rs 563.43 crore for the financial year 2015-16.
The budget has been prepared in three major parts including normal budget, development budget and budget relating to self-financing courses. The Normal Budget consists of the income credited to the University Fund Account and the expenditure incurred out of it.
The budget was presented by Dean, Faculty of Commerce, Prof Akbar Ali Khan, at the meeting of Academic Senate held on Friday. He said that the year 2015-16 is likely to commence with an opening balance of Rs 19.82 crore. The receipts during the year are estimated at Rs 543.61 crore which includes of Rs 238.20 crore of Block Grant from State Government. "By adding the opening balance of Rs 19.82 crore, the total amount available for utilisation is expected to be Rs 563.43 crore, against which an expenditure of Rs 569.58 crore has been estimated for the year 2015-16.
Prof Khan said that inspite of pooling all resources available at the university including Exam Fee Fund Account, there is still a shortfall of Rs 6.15 crore, as against the total expenditure of Rs 569.58 crore, on Pay & Allowances, Pensions and Maintenance expenditure. "As the Block Grant allocated to the university for the year 2015-16 is not sufficient, the government will be requested to sanction additional funds to overcome the short fall," he said.
News Posted: 27 March, 2015
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