The Shivaji University, Kolhapur (SUK) declared its budget for the upcoming academic year 2014-15 on Thursday in its annual senate meeting. The budget estimates expenditure worth Rs 278.68 crore compared to deposits worth Rs 274.34 crore.

The estimated expenditure has increased by Rs 24 crore compared to that in last year's budget. Last year, the university spent Rs 254 crore compared to deposits worth Rs 249 crore.

Management council member D T Shirke while presenting the budget said the deficit would be covered through research and development funds and remaining funds from the depreciation cost.

The university budget for the upcoming academic year focuses more on construction and renovation of the academic and administrative buildings across the campus. "Provision of Rs 1 crore has been made in the budget for construction of a new hostel at the SUK campus that would accomodate as many as 1,000 students," said Shirke.

Currently, there are four boys' and two girls' hostels, which accomodates around 1,000 students. "With the rising number of courses as well as students and insufficient hostel buildings to accomodate more students, the decision to construct the new hostel was taken for which preliminary provision of Rs 1 crore has been made. The amount will be increased according to the progress of the work in coming years," Shirke added.

Apart from the new hostel, the department of chemistry too would get a new building and provision of Rs 80 lakh has been made for its construction. Also, the computer science department would be shifted to the additional floor of the department of technology building for which funds worth Rs 2.20 crore have been granted.

The budget has also proposed a whopping Rs 3 crore for the work of extension of the library building. "The construction, which was started last year, is still under progress and the current budgetary allocation would only speed up the work. We hope to get the first floor ready by the end of the upcoming academic year, which would help to start a reading room for 400 students," added Shirke.

A provision of Rs 50 lakh has been made for the continuation of construction of a compound wall, which has been marked as an important issue by SUK. "The university is facing legal hurdles involving the southern side of the campus near Rajendranagar, which is hampering the work," he said.

An amount of Rs 35 lakh has been granted for renovation of the university guest house. While the examination department has been granted Rs 25 lakh for its development, provision of Rs 13 lakh has been made for the department of foreign languages.

Members of the Shivaji University Teachers' Association said, "Despite being granted financial help, irregularities in the examination department continues to a matter of concern."

Senate member S A Bojgar said, "The budget does not provide any new sports initiatives."