UGC approves Tk 117b for 55 public varsities in FY 25
In FY’ 24, Tk 122.62b was approved, and revised budget was Tk 90.15b
FE REPORT | Thursday, 13 June 2024
The budget allocation for the country's public universities has decreased in the fiscal year (FY) 2024-25 compared to the last fiscal, despite a demand for higher allocation in research and development from the universities.
The University Grants Commission (UGC) has approved Tk 116.90 billion for 55 public universities in FY 2024-25.
In the proposed budget for FY 2023-24, Tk 122.62 billion was approved for the universities. The UGC later approved the revised budget of Tk 90.15 billion for the fiscal.
The FY 25 budget was approved in the 167th full commission meeting of the UGC at its headquarters on Wednesday with UGC Chairman (additional charge) Prof Muhammad Alamgir in the chair. Besides, the UGC budget of Tk 874 million with its own income was also approved.
Dhaka University got the highest budget like the previous year.
In the main budget for FY 2024-25, the government's grant for the public universities was Tk 55 billion, whereas the revenue earned through the universities was estimated at Tk 12.72 billion.
Besides, a development budget of Tk 49.17 billion was approved for the universities in the main budget for FY 2024-25 in favour of 31 projects, whereas Tk 1.88 billion was approved for research.
Regarding the budget allocation, Prof Alamgir said in this year's budget, the growth rate of the government grants is 5.57 per cent. The universities' own income has increased by 8.40 per cent, and the research sector budget has increased by 29.80 per cent.
Prof Alamgir urged the universities to implement the budget properly following the financial policies of the government and the UGC. He also emphasised cost control and increasing the universities' own income.