FY2023-24 UGC proposes Tk12262cr for higher education

Staff Reporter :
The University Grants Commission (UGC) has proposed a budget of Tk 12,185.33 crore for public universities for the next financial year of 2023-24 with an increase of Tk 1,741 crore compared to the current fiscal year.

Earlier, UGC approved a budget of Tk 10,444 crore for 50 public universities of the country in FY23.

The commission also approved Tk 77.45 crore budgets for itself for the next fiscal year, said a press release issued by the regulatory authority of the country’s higher education on Sunday.

The budget includes Tk 6,109.10 crore of revenue expenditure and Tk 6, 076.23 crore of development outlay. The approval came at a UGC meeting presided over by its Chairman Dr Kazi Shahidullah.

About 55 guidelines and an austerity direction in allocation and expenditure of the revised FY 2022-23 and original budget (operations) for FY 2023-24 have been issued for the universities.

For the next financial year of 2023-24, Dhaka University received the highest revenue budget of Tk853.80 crore. The university also got the highest allocation of Tk15 crore in the research sector. In FY23, Dhaka University got the allocation of Tk 864.94 crore.

Around Tk 174 crores have been allocated in the main budget for the FY 2023-24 for the research of UGC and public universities in higher education.

The allocation for this sector has been increased by Tk 24 crore in the budget,a little rise compared to the FY23.
In the revised budget of the last FY 2022-23, an allocation of Tk 150 crore was considered for the research sector.