BENGALURU: Nineteen years after its inception, the Visvesvaraya Technological University (VTU) has received the 12B status from the University Grants Commission (UGC). With this, VTU is eligible to get funds from the Centre and other agencies for research.
In an official communication to VTU in the last week of December 2017, the UGC authorities confirmed the 12B status.
The communication, a copy of which is with Express, reads: “The committee considered the report submitted by the UGC’s inspection committee along with the compliance report submitted by the university. The committee decided to recommend approval of 12-B status to VTU.”
UGC has advised the VTU to apply to NAAC. NAAC is an autonomous body funded by UGC that accredits higher education Institutions in India.
Now, with the 12B status, VTU is all set to submit a detailed proposal to the Centre and other government agencies to seek funds under various heads. VTU registrar Prof Jagannath Reddy said, “Now the university will be eligible to get funds for both developmental activities and research work. We will submit a proposal.”
VTU lost crores in financial assistance from the Centre and other agencies as it did not have 12B status. “The varsity was run by internal resources. We are happy that we can get financial assistance from other agencies affiliated to the Centre,” a VTU official said.
Although VTU authorities had applied requesting inclusion, for the first time the UGC sent a committee for inspection of the campus in July, 2017. The UGC also provides funds under various heads, like construction of hostels, development of infrastructure, setting up of centres for excellence, and for sports activities.
However, there is no communication yet about the inclusion of 2F status for the university under the UGC Act 1956, which will help VTU get Income-Tax relief. Currently, over `450 crore is stuck with the I-T Department as it was not included under 2F status.
WHAT IS 12B AND 2F?
The University Grants Commission provides financial assistance to eligible colleges and universities included under Section 2F, and declared fit to receive central assistance (UGC grant) under Section 12B of UGC Act, 1956, as per approved pattern of assistance under various schemes.