MNLU receives Rs7cr grant from state govt

Nagpur: The Maharashtra National Law University (MNLU) has received a crucial financial endorsement from the state govt after the cabinet approved its long-standing request for augmented funding of Rs7 crore on Monday.
Talking TOI MNLU vice-chancellor Vijendra Kumar said that the annual funding has been extended till 2027-28, following which the university is expected to attain self-sufficiency.The funds will be allocated in four installments across four quarters.
The vice-chancellor mentioned that these funds would be employed for maintenance, security, and other administrative objectives. The university is also servicing a loan of ₹50 crore obtained for the construction of the campus at Waranga, situated 40km from Nagpur city. Approximately ₹22 crore has been remitted by MNLU towards the principal and interest, and the university has solicited the govt to assume the loan.
"We are thankful to the state govt, particularly the Department of Higher and Technical Education, for revising the block grant from Rs5 crore to Rs7 crore," Kumar said.
MNLU, an autonomous institution, also utilizes its fees for maintenance and salaries, while the block grant from the govt assists in bridging any shortfall during the initial years. The block grant is also provided to MNLUs in Chhatrapati Sambhajinagar and Mumbai.
The repayment of the construction loan had resulted in a deficit of funds for MNLU Nagpur, making it challenging to even disburse staff salaries, settle vendor bills, and conduct academic events.
"Our request to reimburse Rs22 crore and resolve the remaining loan amount with the bank is still pending before the govt. The chief minister and the deputy chief minister have been personally requested to address the matter," he stated.
Kumar added that once the loan is closed, MNLU will become self-sufficient to meet its expenditures.
The state govt has recommended MNLU to opt for a bank loan to construct its permanent campus, as it was unable to provide funding due to the Covid pandemic. Govt NOCs and approvals were obtained to borrow the loan and pay off vendor bills at that time.
The scarcity of funds has impacted academic activities such as moot court and seminars. "MNLU Nagpur is ranked 33rd in NIRF. We can excel further if these stalled activities are resumed," Kumar said.
TWO MORE
HOSTELS NEEDED
MNLU has over 1,100 undergraduate and postgraduate students
Three undergraduate courses and one postgraduate course are offered
Each year, 240 undergraduate and 60 postgraduate students are admitted
725 students reside at the campus
Remaining students live outside the campus in rented accommodations
Two hostels, one for boys & girls respectively, required to accommodate all students
MSID:: 113640942 413 |