The Rajya Sabha passed the Indian Institutes of Management Bill 2017 and granted more autonomy to IIMs by restricting the government’s role in their functioning.
The Rajya Sabha, on Tuesday, passed the Indian Institutes of Management Bill 2017, reviewing the roles and responsibilities of Indian Institutes of Management (IIMs) in India. As per the new bill passed by the Rajya Sabha, IIMs in India will not hold the more statutory power to regulate and stabilize functions. The fresh bill restricts the government’s role in IIMs’ functioning and extends greater autonomy to IIMs. The bill provides more authority to IIMs to award degrees to their graduates and let them give the power to appoint directors and faculty members as well.
The Indian Institutes of Management Bill 2017 was passed in the month of July in Lok Sabha this year. According to IIMs Bill 2017, IIMs can now award degrees instead of postgraduate diplomas.
“The bill offers autonomy to these institutes. Through this bill we will remove all interference of the government, bureaucracy in the functioning of the IIMs. They will themselves decide how to manage and run these premier institutes,” said the HRD minister Prakash Javadekar.
Mr Javadekar further ensured that these rules and regulations to be outlined as per the valuable suggestions of the Rajya Sabha members. Notably, the Upper House passed the bill unanimously. He also assured that this bill will play an important role in the career of students belonging to the poor family backgrounds and no student will be deprived of getting admissions to IIMs and the government will bear the interest on the education loan taken by the students.
The HRD minister also indicates that the existing board members of the IIMs would continue to do their jobs. However, as per the new bill, the SC, ST and women representatives will be introduced in the board of governors. The minister justified the autonomy for IIMs by stating that, “This is new beginning...We must start believing in our best educational institutes.”