Rs 58 crore deficit budget for Madras University

Professor K Jothi Sivagnanam, head of the department of Economics, chaired the meeting and presented the budget in the presence of the secretary of the Senate and registrar-in-charge of the university, S Karunanidhi. 

Though it is a mandatory rule that six MLAs should attend the Senate meeting, only two, Sathyanarayanan B from T Nagar and P Vetrivel of Perambur, participated. 

It was announced that 45 new research projects have been sanctioned by eight funding agencies, including the UGC, Department of Science and Technology, DRDO. Further, the agencies would also contribute Rs 5.46 crore towards research activities. 

Regarding the Rs 58 crore deficit, the report stated, “An analysis of the receipt and charge of part I of the non-plan account at the closure of the financial year 2015-16 showed a receipt of Rs 109.12 crore, setting off the expenditure of Rs 154.48 crore. The deficit closing balance of Rs 124.94 crore of the previous year 2014-15 ended with a deficit of Rs 58.30 crore due to a delay in the receipt of grant from the TN government”. 

Speaking to DTNext, a senior syndicate member in charge of finances said, “The fund from the government arrives late and is insufficient. It is now, in 2017, that we have received the grants for 201314. This affects the payment of salaries and pension. The university pays from the corpus funds, plan funds, non-plan funds, and distance education, which leads to a procedure lapse. The government grants cover for 20 per cent of the total expenditure and this year they have released 10 per cent already.” 

Professor and Director for Centre for South & Southeast Asian Studies, University of Madras, S Manivasakan said, “For the past four years the non-plan funds have been the same. Stationery, maintenance of computers, equipment, special lectures and University Research Fellow, also require funding.”