The Ministry of Finance has increased Punjabi University’s monthly grant to Rs 30 crore. The letter stated that a grant of Rs 90 crore for the first three months of the current fiscal year has been issued to the Department of Higher Education.
By increasing Punjabi University’s monthly grant to Rs 30 crore, the government has fulfilled a longstanding demand of the university. This move is expected to help the institution get out of the fiscal deficit it has been facing.
The assurance about increasing Punjabi University’s monthly grant was given by CM Bhagwant Mann and Finance Minister Harpal Singh Cheema during a session of the Legislative Assembly.
This news follows the announcement that Punjabi University had reached its highest-ever estimated budget deficit of Rs 285 crore.
If the university had not received the increased grant, it would have had to spend Rs 648 crore in overall expenses, which is higher than its estimated income of Rs 363 crore.
