Management of Fund Grants

The funds and all moneys of the University shall be managed in such manner as may be prescribed. (1) The Government shall every year make non lapsable lump sum grants to the University as follows:— (a) A grant not less than the expenditure incurred in the year in respect of the activities of the institutions of Veterinary, Animal, Dairy, and Fishery and Allied sciences, and such other Government departments relating to Veterinary and Animal Sciences, Fisheries and allied sciences as are transferred to the University, (b) A grant not less than the estimated expenditure on pay and allowances of the officers, teachers, employees, other staff, contingencies, supplies and services of the University, and (c) A grant to meet such additional items of expenditure, recurring and non-recurring, as the Government may deem necessary for proper functioning of the University (2) The University shall furnish such statements, accounts, reports and other particulars relating to any grant made by the Government and its utilization as the Government may require.