The book presents a comprehensive over view of financial management of universities in India and probes into the factors that obstruct or help in the maintenance and development of University Institutions in India. The author has examined in depth the existing financial management systems, sources of finances grants-in-aid rules, criteria for fixation of grants, pattern of expenditure, financial Health, budgeting, planning, accounting and auditing system of University Institutions in India. The author has combined conceptual analysis with empirical evidence to develop a model regarding, powers and functions of fiscal policy-making authorities, composition of financial committees, grants-in-aid rules, criteria formulae for fixation of grants-in-aid, optimal allocation of available funds, normative pattern of expenditure, budgeting, accounting, planning and auditing concepts and transactions. The book will not only be of interest and value to students, researchers, teachers, policy makers, educational administrators and planners, but will also prove quite stimulating in future thinking on the subject and for opening new vistas of action and research.