Lok Sabha passes IIM Bill

Lok Sabha,New Delhi: The Lok Sabha on friday passed the Indian Institutes of Management Bill 2017 that provides administrative, academic and financial powers to IIMs and allow them to grant degrees. The bill grants powers to IIMs for appointment of directors, faculty members and removes the tremendous government interference that these B School faced earlier.

HRD Minister Prakash Javadkar said, “We are giving real freedom to our institutions, there would not be any government control. We have to trust the best brains, the best institutions.”

India has 20 IIMs now. The bill which was approved by the union Cabinet in January will grant greater autonomy to IIMs. The management of IIMs will now be board driven, the bill will ensure that the chairperson and the director are selected by the board. This means that there will be no interference from the HRD ministry or the President of India.

Rajya sabha is expected to take up the bill next week, where it will be discussed and evaluated further.

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