IIMs graduates to now get degrees, not diplomas; after cabinet nod
With the Cabinet clearing contentious Indian Institutes of Management (IIM) Bill, 2017 on Tuesday, it seems the incumbent Human Resource Development Minister Prakash Javadekar is putting in his all efforts to complete the pending works of his predecessor - Smriti Irani.
Notably, the fate of IIM Bill, which was in discussion for over four years, had hit a virtual dead end during Irani's tenure after IIM directors were opposed to some clauses in the bill that were inserted to dilute their autonomy. As per the IIM Bill, there will no say of the either HRD ministry or the President in the selection of top executives of these B-schools. As of now, there are 20 IIMs in the country, which admit about 10,000 students each year. The government is also mulling on doubling the seats in all 20 IIMs up to 20,000.
The IIM Bill, 2017 has been approved by the Cabinet granting "complete autonomy" to the elite B-schools and allow them to issue degrees instead of diplomas as is the case now. The IIM bill will grant the premier management schools autonomy in terms of administration, recruitment and daily functioning, Frank Noronha, chief spokesperson of the government, tweeted after the Cabinet meeting.
The bill will allow IIMs to "grant degrees to their students and complete autonomy, combined with accountability," Noronha said, adding that the bill will ensure IIMs are "board-driven, with the chairperson and director selected by the board".
Most contentious issues, such as the composition of IIM boards, selection of board chairmen and course fees, will now be decided by the IIMs with little interference from the ministry.
The bill had run into rough weather over fears that it would erode the autonomy of these premier institutions. However, following intervention by the Prime Minister's office, the HRD ministry made changes to the draft, accommodating most of the demands of the elite schools.