Amendment status not verified — confirm the current text below against the official source.
(1) The University shall have a General Fund to which shall be credited (a) its income from fees, grants, donations and gifts, if any; (b) any contribution or grant made by the Central Government, and the University Grants Commission, All India Council for Technical Education or like authority, any local authority or any corporation owned or controlled by the Government; (c) endowments and other receipts. Explanation In this section the expression “University Grants Commission” means the Commission established under section 4 of the University Grants Commission Act, 1956 (Central Act 3 of 1956). (2) The university may have such other funds as may be prescribed by the Statutes. (3) The funds and all moneys of the university shall be managed in such a manner as may be prescribed by the statutes. *[(4) The Government may, every year, provide grant-in-aid to facilitate and promote studies and research in emerging areas of higher education, including new frontiers of technology, pharmacy, environmental studies, non-conventional energy sources and management studies, and also to achieve excellence in these and connected fields in the manner prescribed by the Government from time to time.] 19 Annual Accounts.