New Delhi: In a significant upgradation for the prestigious Indian Institutes of Management (IIMs), the famed institutions will soon be able to grant degrees and PhDs to their students instead of Post Graduate Diplomas and Fellow Programmes in Management, as the Union Cabinet on Tuesday gave its nod to the IIM Bill 2017.
The IIMs will also be declared as ‘Institutions of National Importance’ said the bill, which was cleared by the Union Cabinet. Following the approval by the Cabinet, this much awaited legislation is expected to be introduced in Parliament in the upcoming Budget session.
“The IIM Bill focuses on complete autonomy, effective administration, more alumni participation and many other areas,” Prime Minister Narendra Modi tweeted shortly after the decision of the Cabinet was announced.
HRD minister Prakash Javadekar also tweeted that the decision is a “historic one” which gives the IIMs real autonomy and power to grant degrees.
In an official statement, the Government said that the management of these institutions would be Board-driven, with the chairperson and director of an institution which will be selected by the Board of Governors (BoGs). Provision has also been made for inclusion of women and members from SCs and STs in the Board, it added.
