Delhi University is considering taking a loan of more 1,000 crore from the Higher Education Grants Agency (HEFA) for infrastructure development and creation of capital assets, according to official documents seen by PTI.
PTI reports that a proposal on 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 plans to present 1,075.40 crore to HEFA for infrastructure development and creation of capital assets.
As per the HEFA funding pattern, the university has to repay the loan in 20 half-yearly installments over 10 years.
The university said it has been getting very limited allocation for building capital assets for the past three to five years and has been unable to purchase laboratory equipment.
It also cited the condition of the dilapidated buildings.
The education ministry has already stated that major infrastructure projects will be funded only through HEFA and no funds will be released as budgetary support.
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