Loans to universities only for capital expenditure, according to Haryana government

Subsidies for staff wages and salaries will continue, the government says.

Subsidies for staff wages and salaries will continue, the government says.

On the issue of loans to state universities, the government of Haryana clarified that it was only for “capital expenditure” and that grants for salaries and wages of university employees would continue as before.

Talk to The HinduTVSN Prasad, Additional Chief Secretary, Finance, said all fears and apprehensions surrounding the government’s decision were “unfounded” and that the loan offered to universities was only for capital expenditure and was “interest free” and ” for life” .

“I would like to clarify that the government of Haryana would continue to release money for recurrent university expenses such as salaries and wages in the form of grants. The provision for the university loan is only for the creation of the infrastructure. We won’t get it back and won’t charge interest,” Mr. Prasad said.

He said the purpose of this decision was to reduce unwanted expenditure for the creation of infrastructure in universities and to make our institutes more competitive.

“Since the money for capital expenditure will be in the form of a loan, we can make provisions for its upkeep and maintenance in subsequent budgets each year. This is, in fact, a good thing. It will also put pressure on universities to generate revenue and build their own infrastructure instead of borrowing from the government. The aim is to make universities more competitive, not to make money from them. The government can convert the loans into grants if there are protests, but that would be a lost opportunity for the state,” Mr. Prasad said.

Brij Kishore Kuthiala, Chairman of the Higher Education Board of Haryana State, said that this was a measure of financial management and budgetary discipline and that the whole matter would be discussed during of a two-day conference of vice-chancellors convened on May 14 and 15 by the council. He said Finance Secretary Haryana would interact with the Vice Chancellors on the matter and related matters.

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