NEW DELHI: The University of Delhi (DU) will be soon launching it’s Alumni Endowment Fund Initiative. The purpose of the fund would be to collect an amount of ₹1000 crore. As per the recognition given to the university under Institutes of Eminence (IOE), DU is to already receive the same amount via the Government for the next 5 years. The administration of the university has started the endowment funding initiative to match the government’s financial level.
The Indian Government has granted DU the stature of IOE; this entitles the university to obtain ₹ 1000 crore by the Government. DU was honoured under the IOE back in September 2019. Yogesh Tyagi, Delhi University’s vice-chancellor had also released a letter that said, “To help our students and faculty attain academic excellence, the university would like to provide them with the necessary support, including the best and most modern research facilities and educational infrastructure. We, therefore, propose to match the Government's one thousand crores grant with the University's initiative of raising one thousand crore funds.”
The Endowment Fund Initiative will have these following features:
1. 100% Tax Exemption
2. No minimum or maximum amount has been set in terms of contribution.
3. Not only the alumni, but their acquaintances like friends and family can also contribute to the initiative.
4. Contributors can select the areas in which they would like to make a contribution in.
5. 50% out of the total funding has been reserved for students who are girls.
6. Necessary details regarding how the funds would be utilised are available on the university website.
7. Compulsory inspection of the fund will be conducted by the Controller and Auditor General of India.
The university has also stated that suggestions to make the initiative more efficient and convenient are encouraged. Suggestions can be sent on the following email: [email protected]