University Grants Commission UGC New Rules

University Grants Commission UGC New Rules

A new ruling by the University Grants Commission (UGC) for colleges that have been given grants has sent these institutions on a "spending spree".
According to the ruling, colleges that have been sanctioned grants have to spend the amount within a period of six months and submit the details or else they will have to pay a fine — 10 per cent interest on the entire amount of the grant. Throwing light on the rule, a senior UGC official said that it was noticed that "A" grade colleges that are eligible for grants to improve their infrastructure were not spending the amount after it was sanctioned and transferred into their accounts. As a result of which the amount lapsed and the colleges returned the amount after a year.
"The main aim of the grant is to ensure that colleges provide the best of facilities, both academic and administrative, to students.