University of Mumbai (MU) presented a surplus of Rs 52 crore with an overall estimated budget of Rs 539.04 crore for the academic year 2017-18. A surplus budget is when the university’s slotted expenditure in a year is less than its expected income.
Last year MU projected a surplus budget it failed to live up to its hype after the MU failed to generate enough revenue. The varsity has, however, lowered its expectations by reducing the estimated income by Rs 68 crore — the total budget for 2016-17 was Rs607.14 crore. The budget still aims for a surplus of Rs 52.94 crore.
As reported by Indian Express, according to a unnamed senior MU official has said that, for the academic year 2017-18 has estimated budget of Rs 539.04 crore from which university has proposed to spend only Rs 487.04 crore. The university in its last budget had proposed to earn Rs 607.14 crore which included more than Rs 150 crore that was to be recovered from its affiliated colleges. The university, however, could not recover this money, leading to a deficit of Rs 73.29 crore.
Some key highlights of the MU budget:
- A centre for European studies as well as a Chinese centre. Rs 50 lakh have been allotted for a centre for India-China studies. Rs 15 lakh have been allotted for a centre for European studies.
- The University of Mumbai will offer traditional undergraduate and post-graduation courses to the children of the soldiers hailing from Maharashtra who died in the line of duty and the children of single mothers in the state for free.
- Examiners would get higher remuneration for paper assessment.
- A skill development centre for women and civil services entrance examination training center will be set up on a 14-acre plot in Kalwa.
- A centre on 200 acre of land in Palghar district along the lines of tribal university, to extend higher educational facilities to tribal’s.
- A sum of Rs 1 crore has been allocated for a master plan to develop infrastructure at the Kalina campus.
- The university will also start School of Engineering Sciences at its Kalyan sub-centre.
- A Center for Railway Research in Ratnagiri its sub centre from this academic year and a Green Campus in Vidyanagari.