Cochin University of Science and Technology is still waiting for the state government to release Rs 10 crore that was promised as interim relief to meet the financial deficit of Rs 50 crore.
“Government had sanctioned the amount and we had sent the bills showing the expenditure of the university. However, we have yet to receive the money”, said Cusat official.
Earlier, a high-level committee of the university comprising the vice-chancellor, registrar and standing committee chairman, approached the government at Thiruvananthapuram to deal with the fund deficit. The committee met the chief minister, education minister and finance minister and submitted a three-page memorandum in which it was stated that the university presently has Rs 50 crore financial deficits and the government has to sanction more money for Cusat to tide over the crisis.
Even as the university’s annual expenses has increased over the years, the state government’s financial grant to the university has been curtailed, resulting in a major financial crunch, which it has been unable to overcome in spite of introducing new courses. This year, to reduce its financial liability university took various steps, which includes starting new courses, increasing the number of student enrolment in self-financing courses and cutting down on the overall expenditure of the departments.
As seen on The times of india written by Preetu Nair, TNN Dec 22, 2012, 08.38PM IST