₹1,000 crore from the Union government and ₹250 crore from the state over five years, Bengal’s finance minister announced in the BJP’s first budget on Monday.

A cash-starved JU reacted with joy at the announcement of the loosening of purse strings from the state and the Centre.

Finance minister Swapan Dasgupta announced: “Jadavpur University will be developed as an institute of excellence with the government of India contribution of ₹1,000 crore and state share of ₹250 crore over a period of five years.”

According to those on campus, the announcement could enable the university to secure a status that eluded it over the past eight years because of a tussle between the Trinamool government and the Union education ministry.

“We are grateful to the state government for allotting the state share. As vice-chancellor, I wrote to the state higher education department in the third week of May, after the BJP government was sworn in on May 9, requesting the new government to release the state’s share as demanded by the Union education ministry,” VC Chiranjib Bhattacharjee told Metro.

“What was denied by the previous state government has been approved by the present government. The state budget reflects a change of stance. At a time we are encountering financial constraints, this means a lot,” he added.

Bhattacharjee had written to the education department requesting ₹250 crore, because the Centre had in 2021 set it as a condition for releasing the remaining ₹750 crore.

An education department official said that although the finance minister used the term “institute of excellence” in his budget speech, the announcement was part of the education ministry’s plan to grant JU the “Institute of Eminence” status.

“The status is now within JU’s grasp with the advent of a new government,” a JU official said.

JU was seventh on a shortlist of 10 “public institutions” drawn up by an empowered expert committee of the UGC in July 2018 for the tag of eminence — a status that would have brought a ₹1,000 crore grant over five years from the education ministry.

In 2021, the Union government said that if the Bengal government contributed ₹250 crore, the education ministry would provide ₹750 crore and award the tag.

The erstwhile Trinamool government declined the proposal, alleging that the Union government had altered the conditions instead of granting the full ₹1,000 crore it had earlier promised.

Higher education minister Jagannath Chattopadhyay said: “I hope that JU will use the funds properly. It will help in overhauling infrastructure. The money should also be used for e-governance.”

After Monday’s budget speech, JU is eyeing more.

“With a double-engine arrangement there is now a possibility that the Centre alone could provide ₹1,000 crore, and the state another ₹250 crore,” an official said.