NEW DELHI: Delhi University has been granted the status of Institution of Eminence (IoE), which entitles the varsity to receive additional financial support of Rs 1,000 crore from the government during the next five years.
In a letter to alumni, DU VC Yogesh Tyagi said that this status will allow the varsity to take new academic initiatives including building new institutions in the fields “where we are lagging behind”.
To match the government’s grant with the university’s own initiative of raising Rs 1,000, DU will launch ‘The Endowment Fund of the University of Delhi’, he said.
Tyagi listed 100 per cent tax exemption; no restriction on the amount of contribution; 50 per cent funds earmarked for female students; display of the information relating to the utilisation of funds on the university website as the features of this endowment.
“Alumni, their family members, friends, and relatives are welcome to contribute. Donor’s choice to select the area in which his/her contribution should be utilised,” he said. He said there will be a compulsory audit of the endowment by the Controller and Auditor General.
This, according to the VC, will provide opportunities and facilities to enhance the quality of teaching and research, and to attract talent from outside the university. “We are delighted that the University of Delhi is the only Indian university among the top 500 universities in the QS World University Rankings. We aim to reach the top 100 in 10 years,” he said.