The Union Government is likely to provide financial support of Rs 282.25
crore to the Indian Maritime University (IMU) to meet the capex requirements as
well as recurring deficit. The decision to this effect was taken on 8 April
2010.
The total fund requirement is envisaged to be Rs 282.25 crore out of which Rs
275.33 crore is capital support and Rs 6.92 crore will be to meet the deficit.
The capital support is likely to be used for construction of academic block,
administrative block and hostel block at the IMU headquarters.