Delhi University (DU) proposes to take loan of over ₹1,000 crore. Details here : Rashtra News
#Delhi #University #proposes #loan #crore #Details
The Delhi University is mulling over taking a loan of over ₹1,000 crore from the Higher Education Funding Agency (HEFA) for infrastructure development and creation of capital assets, according to official documents seen by PTI.
PTI reports that a proposal on the loan from HEFA will come up for discussion in the university Executive Council meeting on March 25.
According to the agenda of the meeting, the university is planning to submit a proposal of ₹1,075.40 crore to HEFA for infrastructure development and creation of capital assets.
According to the HEFA funding pattern, the university will have to repay the loan in 20 half-yearly installments in 10 years.
The university said it has been receiving a very limited allocation for creation of capital assets for the last three to five years and has been unable to purchase lab equipment.
It also cited the condition of buildings that are in a dilapidated state.
The Eduction Ministry has already said that major infrastructure projects will be funded through HEFA only and no funds will be released as budgetary support.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.livemint.com feed.)
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