Hyderabad: The Union Cabinet on Wednesday gave its approval to set up the Indian Institute of Management, Visakhapatnam, along with five others in the country. The Centre is keen that the IIMs begin their academic sessions from this academic year itself. IIM-Visakhapatnam, and the other five IIMs, will have an initial intake of 140 students in the post graduate programme. The annual intake is expected to rise to 560 each by the end of the seventh year. Authorities of IIM-Bangalore, which is the mentor to IIM-Visakhapatnam, informed that admissions will be taken only after a society is formed.
Apart from Visakhapatnam, the IIMs will be set up in Bodh Gaya (Bihar), Sirmaur (Himachal Pradesh), Nagpur (Maharashtra), Sambalpur (Odisha) and Amritsar (Punjab). There are at present 13 IIMs in the country. In his budget speech in July last year, finance minister Arun Jaitley had announced a proposal for the setting up of five new IIMs. In addition, an IIM was proposed for Andhra Pradesh in keeping with the AP Reorganisation Act, 2014.
