Presidency raises Rs two crore from corporates and alumni

To upgrade infrastructure and attract international faculty, the Presidency University here has successfully raised Rs two crore from corporate houses and its many well-placed alumni spread all over the world.
"We are very happy that the corporate sector has come forward in our fundraiser. So far we have collected Rs two crore from corporate houses as well as individual donors and alumni," Presidency's Vice-Chancellor Malabika Sarkar told PTI.
To fulfil its ambitions despite limited financial support from the West Bengal government, the cash-crunched varsity had launched a campaign and started the Presidency University Vice-Chancellor's Fund for Excellence.
Their target is to get funds of Rs 200 crore by 2017 when the institute celebrates its bicentenary.

The most recent generous donation of Rs one crore was made for the setting up of a chair - the Paresh Chandra Chatterjee Professor of History - from the Luxmi Charitable Trust run by Kolkata-based Luxmi Tea Company.
"We have also sought support from industry bodies like Bengal Chamber of Commerce and Industry and Assocham. The response has been positive," Sarkar said.

The West Bengal government has contributed another Rs six crore to its kitty.
All contributors in India get a 100 per cent tax relief as the University Grants Commission gave it the rare status of 'Institution of National Eminence' in 2012.

Besides introducing excellent research facilities in various disciplines, Presidency wants to upgrade its labs, buildings and other infrastructure.