| 
| PM's alma mater gets Rs 50 cr
Last Updated: 2009-07-06 13:55:31
Finance Minister Pranab Mukherjee Monday announced a grant of Rs 500 million (Rs 50 crore) for Panjab University in Chandigarh, the alma mater of Prime Minister Manmohan Singh.
"I announce a grant of Rs 50 crore for Panjab University," Mukherjee said in his budget speech.
The university, which is funded by the central and Punjab governments in a 60:40 ratio, will be able to tide over its financial crunch with the latest grant announced by the finance minister.
Prime Minister Manmohan Singh did his graduation and post-graduation in economics from this university in the 1950s. Later, he joined the university as a lecturer and went on to become a professor at the young age of 32 years.
In recent years, the Punjab government has drastically cut down its share of funding to the university, leading to a major resource crunch for the institution.
The Punjab government, after initially agreeing to let Panjab University become a central university, backed out from the move last year saying that the step would make its claim to Chandigarh weaker.
Check out our updates on Budget
Chandigarh, the joint capital of Punjab and Haryana, is a centrally-administered union territory (UT) which Punjab wants that it should be transferred to the state.
| 
|
| © Copyright Sify Technologies Ltd, 1998-2009. All rights reserved. India News Portal, Sify.com hosted at SifyHosting India's first Level 3 Internet Data Centre. Site optimized for Internet Explorer 5.5 and above. See Disclaimer | Privacy Policy & Parental Guidance on pornography | careers@sify | About Us | Feedback | Advertise |