The will provide Punjabi University Rs 30 crore per month (Rs 360 crore annually) as grant. The university said the decision was conveyed during Vice Chancellor Prof Arvinds meeting with Finance Minister Harpal Singh Cheema, Principal Secretary to Chief Minister, Principal Secretary (Finance) and Principal Secretary (Higher Education).
The university had demanded Rs 360 crore as annual grant from government
According to officials, the university can earn Rs 200 crore from its own sources
40% students are from reserved category whose tuition fee is waived
The university is also pays monthly interest of Rs 1 crore on a Rs 150-crore bank loan
The university said the government had said that it would provide full grant (Rs 30 crore per month) as demanded. The university said it had already sent the bill for the amount due for the first quarter of the year to the government.