Section 8(2) in The Maharashtra Universities Act, 1994
(2)The university shall be competent to incur expenditure from the funds received from,-(a)various funding agencies without any share or contribution from the State Government;(b)fees for academic programmes started on self-supporting basis;(c)contributions received from the individuals, industries, institutions, organizations or any person whosoever, to further the objectives of the university;(d)contributions or fees for academic or other services offered by the university;(e)development fund, if any, established by the university; for the purposes of-(i)creation of posts in various categories for specific period;(ii)granting pay, allowances and other benefits to the posts created through its own funds provided those posts are not held by such persons, who are holding the posts for which Government contribution is received;(iii)starting any academic programme on self-supporting basis;(iv)incurring expenditure on any development work,without referring the matter for approval of the State Government, provided there is no financial liability, direct or indirect, immediate or in future on the State Government.
