Although it was established by a State Act in 1947 but as an interstate body corporate it has been incorporated under a Central Act of 1966 i.e., Punjab Reorganisation Act passed by the Parliament.
PU is a hybrid having no comparable.
Interstate matters are neither in the State List nor in the Concurrent List of the Constitution. Hence, such matters do not come under the purview of States. These come under the purview of the Union of India.
PU is not a notified Central University but it has all the attributes of a Central University. It is an interstate corporate instrumentality of the Central Government. Controlling (appropriate) Government (both Administrative and financial) is Central Government only. That is why presently vide 14.11.2011 decision of the Central Government, without being a Central University, it is being funded by virtue of the orders of the Central Government only “on the same norms as are applicable to the Central Universities”.