Indian Institute of Management Bill 2017 - All You Need To Know

he Indian Institute of Management Bill 2017 was passed by the Lok Sabha on July 28,2017

 The passing of the bill gave degree-granting power to the prestigious institutes. 

In effect, what this means is that the Indian Institute of Managment officials can award degrees instead of diplomas to their students from the next session.

 This IIM Bill was earlier approved the Union Cabinet in the month of January this year. 

The IIM Bill sought more autonomy and statutory status for the 20 IIMs in the country and for them to be declared as the Institute of National importance, which will now be true in practice.

Human Resource and Development (HRD) Minister Prakash Javadekar was praised today by the opposition in the Lok Sabha for bringing a bill which seeks to usher in functional autonomy in the Indian Institutes of Management (IIMs) by restricting the government role. Moving the bill for consideration and passage, Javadekar said the aim of the bill is to remove the government’s interference in IIMs. He said, “It is a historical bill which will bring a new era in management education in the country.”

What is the Indian Institute of Managment Bill?

The IIM Bill 2017, provides statutory powers to the management institutions in their running including the appointment of directors, faculty members, and gives them powers to award degrees instead of post graduate diplomas. The Bill further has provisions for appointment of members of the board of governors (BoG) in each of the 20 IIMs through a transparent process, while limiting even the HRD Minister’s role. It also sought to declare the IIMs as institutes of national importance and abolish the post of visitor. Currently, the President is the ‘visitor’ of the IIMs