Delhi University is thinking of taking a loan 31,000 crore from the Higher Education Fund (HEFA) for infrastructure development and capital creation, according to official documents seen by PTI.
PTI reported that a loan proposal from HEFA will come up for discussion at the March 25 meeting of the university’s executive council.
The university plans to submit a proposal as per the agenda of the meeting 31,075.40 crore to HEFA for infrastructure development and creation of capital resources.
According to the HEFA funding pattern, the university has to repay the loan in 20 half-yearly installments over 10 years.
The university says it has been receiving very limited allocations for capital creation over the past three to five years and has been unable to purchase lab equipment.
It also mentions the condition of dilapidated buildings.
The Ministry of Education has already stated that large infrastructure projects will be funded only through HEFA and no funds will be released as budget support.
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