The IIMs have been granted complete autonomy and will not
The Union Cabinet approved the Indian Institutes of
Management Bill 2017. The bill grants complete autonomy to IIMs.
The Cabinet, Chaired by Prime Minister Narendra Modi, approved
the bill. Under this bill the IIMs would be declared as institutes of National
importance and would be provided with statutory powers.
IIMs would now be able to award degree instead of diplomas.
As of now IIMs were registered under the societies act were
not authorized to award degrees and have been awarding Post-Graduate Diploma
and fellow programme in Management.
While the Diplomas were treated as equivalent to MBA and
Ph.Ds, but the equivalence is not universally accepted especially for the
There are provisions of adequate accountability by the IIMs
in the bill.
The annual reports of the IIMs would be tabled in the
Parliament and CAG would audit their accounts.
The management of these institutions would now be board
of the important features of the bill is that the board will now have experts and
alumni and provisions have been made to include women and members from SC &
ST in the board.