Mysore varsity presents deficit Budget of ₹80.35 crore
The Hindu
University of Mysuru faces revenue shortfall, presenting deficit Budget of ₹80.35 crore for 2024-25 due to pension payments.
Like last year, the century-old University of Mysuru, whose jurisdiction has now been confined to only Mysuru district with the setting up of universities in districts, is facing a revenue shortfall, with a deficit Budget of ₹80.35 crore presented for the year 2024-25 at the Academic Council meeting here on Friday.
With a major chunk of its revenue going towards the payment of salaries, and pensions, the university has been presenting deficit Budgets over the last couple of years. The university was spending 48 per cent on salaries and allowances, while 34 per cent of its revenue was going towards the payment of pensions. About 6 per cent was spent on campus maintenance, 7 per cent on student welfare measures among others.
According to the university estimates, nearly ₹170.50 crore was spent on salaries while ₹120 crore was on pensions. As against the projected revenue of ₹277.39 crore, the expenditure for the year 2024-25 stands at ₹357.74 crore, causing the deficit.
The Finance Officer of the University, K.S. Rekha, presented the Budget in the presence of Vice-Chancellor N.K. Lokanath, who presided over the meeting, Registrar V.R. Shailaja, and members, including MLC C.N. Manje Gowda.
In the Budget, the university said it was expecting a sum of ₹171.78 crore and ₹50 crore for the year 2024-25 from the government towards the payment of salaries and pensions respectively. The university, however, was facing a shortfall of nearly ₹70 crore for pensions.
The revenue expected from other sources includes ₹42 crore through admissions, affiliation, and other fees; ₹3.50 crore from Scheme B courses, ₹45 crore from examination activities; ₹3 crore from the university assets; and ₹6 crore from other sources. For the students of SC/STs, a grant of ₹3 crore was expected from the government.
With an opening balance of ₹3.10 crore, the university has projected a revenue of ₹277.38 crore – a sum of ₹174.78 crore from the State government alone.
S. Madhivanan assumed office as Deputy Commissioner of Police, Madurai North, on Thursday. A 2022-batch IPS officer, Mr. Mathivanan was hitherto Assistant Superintendent of Police, Aruppukottai. He succeeds G.S. Anitha, who has been transferred as Superintendent of Police, Perambalur district.
Telangana Assembly sessions resume today, focusing on intense debates over water politics and irrigation project mismanagement.
Tamil Nadu government school teachers protest for equal pay, highlighting significant pay disparities and demanding resolution from the state government.
Sheetal and Jithin celebrate a unique wedding, exchanging copies of the Constitution to embody constitutional values and simplicity.
Kogilu demolition: Alternative housing distribution for eligible families begins January 2 amid protests over unclear eligibility criteria.
Kashmir's golden triangle sees record hotel occupancy on New Year's Eve, marking a positive turn for tourism after recent challenges.
Maradu chairperson prioritizes waste management solutions and improving sanitation facilities amid growing challenges in the municipality.
Fifty-two persons, including 23 students, tested positive for narcotic drug consumption, following 1,000 screening tests conducted across hostels, Paying Guest (PG) accommodation and other places in Mangaluru on Tuesday and Wednesday, according to city police.
Karnataka's liquor sales surged to ₹1,669 crore in December, boosting excise revenue despite overall declines in IML and beer sales.
On New Year’s day, the Health department kicked off a major campaign aimed at encouraging people to embrace the wellness journey by pledging to adopt good dietary habits, sleep adequately, exercise moderately and take self care seriously.
Air Marshal Seethepalli Shrinivas takes charge as AOC-in-C of IAF Training Command, bringing extensive experience and accolades.
Yemen's STC allows Saudi-backed forces into seized territories, raising tensions between UAE and Saudi Arabia amid ongoing conflict.
Temples and churches in Tiruchi attracted thousands on New Year's Day, celebrating with prayers and festivities.