Dhaka: The Dhaka University (DU) authorities announced a Tk 664.37crore budget for the fiscal year 2017-18 allocating Tk 14 crore, only 2 % of the proposed budget, for research.

DU treasurer Prof M Kamal Uddin placed the budget in the annual senate session at the Nabab Nawab Ali Chowdhury Senate Bhaban on Saturday with Vice-Chancellor Professor AAMS Arefin Siddique in the chair.

This year Tk 416.07cr has been allocated for salary and allowances which is 62.63% percent of total budget, and Tk 106cr for pensions which is 15.96% of the budget.

Besides, Tk 71.77cr has been earmarked for the students' academic program.

The University Grants Commission (UGC) will provide Taka 610.10 crore for the budget and Tk 42.55 crore will come from DU's own sources. The budget will likely have a deficit of only Taka 11.72 crore, the treasurer told the senate.