The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi has approved the Indian
Institute of Management(IIM) Bill, 2017, under which the IIMswould be
declared as Institutions of National Importance which will enable them
togrant degrees to their students.
Following are the salient features of the Bill:
i. IIMs can grant degrees to their students
ii. The Bill provides for complete autonomy to the Institutions,
combined with adequate accountability.
iii. Management of these Institutions would be Board driven, with the
Chairperson and Director of an Institution which will be selected by the
iv. A greater participation of experts and alumni in the Board is
amongst otherimportant features of the Bill.
v. Provision has also been made for inclusion of women and members from
Scheduled Castes/Tribes in the Board.
vi. The Bill also provides for periodic review of the performance of
Institutions by independent agencies, and placing the results of the
same on public domain.
vii. The Annual Report of the Institutions will be placed in the
Parliament and CAG will be auditing their accounts.
viii. There is also a provision of Coordination Forum of IIMs as an
Indian Institutes of Management are the country's premier institutions
imparting best quality education in management on globally benchmarked
processes of education and training in management. IIMs are recognized
as world-class management Institutions and Centers of Excellence and
have brought laurels to the country. All IIMs are separate autonomous
bodies registered under the Societies Act.
Being societies, IIMs are not authorized to award degrees and, hence,
they have been awarding Post Graduate Diploma and Fellow Programme in
Management. While these awards are treated as equivalent to MBAs and
Ph.D, respectively, the equivalence is not universally acceptable,
especially for the Fellow Programme.