CHENNAI: The Tamil Nadu government on Monday created a revolving fund of Rs 16 crore, for the first-year, towards the expenses of students who secured a seat under the 7.5 per cent reservation in the State quota of MBBS and BDS seats this year.
The funds will be operated by the Tamil Nadu Medical Services Corporation Limited to enable payment of all types of essential and hostel fees for students who got an admission under the quota, said an order issued by J Radhakrishnan, principal secretary to the Health and Family Welfare Department.
The Director of Medical Education had submitted the tentative expenditure towards MBBS and BDS admission under the quota as Rs 15,85,05,032. While Rs 12,74,08,000 has been allotted for students in self-financed medical and dental colleges, the rest is for students in government institutions.
While expenditure has been sanctioned as an item of “New Service,” the government, in its order, said the approval of the legislature will be obtained in due course. The government has also said that separate action will be initiated to replenish the revolving fund from the available benefits of eligible scholarship and educational assistance from other departments.
The Director of Medical Education has been asked to calculate the exact amount required for the period up to the next supplementary estimates and apply for sanction of an advance from the Contingency Fund from Finance (BG -I/ Health - II) Department. Initially, the Managing Director, Tamil Nadu Medical Services Corporation Limited, will be permitted to meet out any expenditure from the Personal Deposit Account and the same will be reimbursed from the contingency funds.