Page 92 - NAAC SSR 2020

VIT follows a decentralized approach in financial management. At the department level, the

budgetary requirements for teaching, learning, research and outreach activities are consolidated
and forwarded to the School Dean. A team of senior faculty members of the School analyze the

requirements and prepare the budget. The School level budgetary requirement is submitted to the

University level committee. The committee finalizes the draft budget for the Schools and forwards
the institutional budget to the Finance Committee for approval. After approval by the Finance

Committee, the approved budget is utilized through Purchase to Payment (P2P) portal which
connects buyers, sellers, purchase and finance offices.

The institute attaches high priority to outreach activities for the benefit of society. The students

and faculty members take part in many socially relevant projects for community welfare through
various outreach events organized by the CSRD, NSS, YRC and various clubs and chapters. VIT

community radio serves the general public through various programmes conceived and aired by
the students.

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6.2 Strategy Development and Deployment

6.2.1 The institutional strategic plan is effectively deployed

Response:

Strategic plan has been formulated in tune with the vision of the institute to excel in teaching,
research and innovation. In the year 2016, the plan was chalked out to make VIT globally visible

and to achieve a rank within top 500 among the world institutes. Today, after three years of

execution of the plan, the institute has been chosen as one of the Institutes of Eminence, by the
MHRD, Govt. of India.

The salient features of the strategic plan are:

• To offer more programmes and courses in multi- and/or trans-disciplinary areas

• To improve the percentage of faculty to be trained in India and abroad through
collaborative research

• To increase the global visibility
• To increase the percentage of foreign students

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