Osmania University presents deficit budget of Rs 42.64 crore for 2023-24
The annual budget projected an estimated expenditure of Rs 752.79 crore while the total amount available for utilization was Rs 710.15 crore, with a deficit budget of Rs 42.64 crore
Hyderabad: The Osmania University in its annual budget for 2023-24, presented a deficit budget of Rs 42.64 crore on Monday.
The annual budget, which was presented by Prof R Nageshwar Rao from Department of Business Management, OU, projected an estimated expenditure of Rs 752.79 crore while the total amount available for utilization was Rs 710.15 crore, with a deficit budget of Rs 42.64 crore.
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Out of the estimated expenditure of Rs 752.79 crore, a total of Rs 416.33 crore (55.31 percent) is for salaries to teaching and non-teaching staff, Rs 293 crore (38.92 percent) for pensions to teaching and non-teaching staff, Rs 40.76 crore towards contingencies (5.41 percent) and Rs. 2.7 crore (0.36 percent) towards loans to employees.
Addressing the academic senate at OU, Prof Nageshwar Rao said: “There is a shortfall of Rs 42.64 crore on pay and allowance, pensions and maintenance expenditure. The block grant allocated by the State Government in the budget to the university for 2023-24 is inadequate and the Government would be requested for sanction of full-fledged and enhanced Block Grant to overcome the shortfall”.
As part of the UGC grants for taking-up developmental activities, an amount of Rs 14.77 crore would be utilized for 2023-24. Against this, the OU authorities have proposed an expenditure of Rs 14.01 crore and the year is likely to close with a balance of Rs 75 lakh.
The OU also receives through non-UGC schemes from institutions like Council of Scientific and Industrial Research (CSIR), Department of Biotechnology (DBT), DST, ICMR, ISRO etc. As part of this, the estimates of receipts (including opening balance) and expenditure for the year 2023-2024 are Rs 8.22 crore and Rs 6.31 crore respectively.
On the occasion, Vice-Chancellor, OU, Sr Prof D Ravinder thanked the State government for the budget allocation to the University. Highlighting new initiatives, the Vice-Chancellor said: “In future the Medical, Engineering candidates will be eligible for PG courses in sciences. The M.Com course would be opened up for graduates from any stream from the coming academic year. A total of 70 courses will be offered by the PGRRCDE under the Open Distance Learning Mode and all the courses under the CDE – Centre for Distance Education will be as per semester system from now on.”
