Hyderabad: The Academic Council of the Osmania University has approved Rs 6.15 crore deficit budgets for the financial year 2015-16, at a meeting held here on Friday.

While presenting the budget Prof Mohammad Akbar Ali Khan who is a Dean Faculty of Commerce said that Rs 23.68 crore and Rs 16.39 crore were allocated for construction of PG College buildings at Jogipet and Siddipet, respectively.

Khan announced a budget of Rs 536 crore for the current year. Akbar informed that the University has huge burden for generating money for paying pensions to retired teachers.