Osmania University Presents Budget with Rs. 47.18 Crore Deficit

Hyderabad: Osmania University (OU) presented a deficit budget of Rs. 47.18 crore for the financial year 2016-17 on Wednesday.

The annual budget presented by Head of Department (Commerce) Prof. SV Satyanarayana at the Academic Senate Meeting showed an income of Rs. 457.55 crore while the expenditure was Rs. 504.73 crore. Interestingly, 82 per cent of the budget expenditure was for salaries and pensions of the OU staff. In rupee terms that comes to Rs. 259.95 crore as salaries for faculty and administrative staff while Rs. 155 crore was for pension to retired staff of the University.

Prof. Satyanarayana said that the Block Grant of Rs. 238.20 crore given by the state government is insufficient to meet the expenditures of the University. The combined amount that is Block Grant and funds raised by the OU through internal resources is sufficient only to meet the basic expenditures, he said and added that in this scenario it is difficult to undertake development works and research activities. Also, several academic blocks in the campus are nearing 100 years and are deemed unfit to occupy late alone conduct academic activities, Satyanarayana said. He called for construction of new buildings in the campus.

Earlier, Prof. Uma presented the annual report of the University on behalf of the vice chancellor. She spoke about the seminar, academic events and other activities conducted during the last fiscal year during the presentation. University Registrar E Suresh Kumar chaired the meeting.