IIM Bill, now known as IIM Bill 2017, seeks to bring many changes in status of IIMs, their autonomy, education system, governing bodies, empowering IIMs to award MBA degree instead of PGDM diploma which they award now.
The bill was approved by Cabinet and in Monsoon session of 2017, the IIM Bill 2017 was passed by Lok Sabha (The lower house of the parliament). The bill was proposed to be taken up in Rajya Sabha on August 9 but could not be passed due to adjournment and would be taken up later in next session. However, since the IIM Bill 2017 has already been passed by Lok Sabha, it is supposed to be passed in the next session by Rajya Sabha.
Now the long cherished dream of IIM passing out students to get MBA from their IIM would come true as IIMs would be vested with the statutory powers to award MBA degrees now.
According to IIM Bill 2017, students of all the 20 IIMs would be awarded MBA degree instead of Post Graduate Diploma in Management (PGDM).
Beneficial for all stake holders
Full autonomy is proposed to be given to IIMs in regard to their administration, recruitment and daily functioning.
- The Bill proposes to grant “complete autonomy” to the IIMs making it possible for them to award MBA degrees instead of PG diplomas as they are doing now.
- The MBA degree from IIMs will be globally acceptable without any need of getting supported with a parallel certificate.
- The Boards of Governors of IIMs would be empowered to evaluate the performance of the IIMs periodically, after every few years.
- The autonomy of IIMs is proposed to be combined with accountability.
- The bill provides that IIMs are board-driven, and the chairperson and director are selected by the board. The boards of the institutes are proposed to be vested with full autonomy including the power to appoint chairperson as well as the director.
- IIMs would become institutes of national importance with power to grant degrees. The Board to remain the principal executive body of each institute.
- Chairperson of the board will be appointed by the board for a period of four years and the Director of each IIM will be appointed by the board for a period of five years via a search-cum-selection panel. Once the bill becomes an act, the board is not required to seek the approval of Human Resource Development Ministry for this purpose.
- The Board will have the power to remove a director. The bill provides and grants powers to the IIM Board of Governors to get an inquiry conducted by the person not below the rank of a High Court judge against a Director in case it is felt that an institute has not performed as per the provisions of the proposed Act and can also remove the Director of the IIM on the basis of the enquiry report. BBA Admissions Open 2022 | Apply Now!
JAGSoM BBA Program Admissions 2022 TAPMI BBA Honours at Bangalore Admissions IMS Ghaziabad (University Courses Campus) BBA Admission UPES University, BBA Admissions 2022
Government also has role to play
Despite all the provisions of autonomy, Government of India in certain areas has its key role to play:
- The IIMs’ accounts will be audited by the Comptroller and Auditor General of India.
- An IIM Coordination Forum will be notified by the Government of India. This forum will function as an advisory body and will be headed by an eminent person.
- IIM Bill provides that the central government may frame rules to give additional powers and duties to the IIM Boards and, it will decide the terms and condition of service of directors although the appointment will be made by the board.
- All rules and regulations framed either by the central government or the IIM Boards will need to be tabled in Parliament... Read More GD Topics
- Demonetisation: Success & failures
- Linking of Aadhaar: Is making Aaadhar mandatory a good idea?
- Start up India: Boosting Entrepreneurship
- FDI in retail: Good for India?
- Budget Cycle Change: Only a move of convenience
- GST: Will economy grow faster with reduced rates of Goods & Services Tax?
- Merger of Public Sector Banks: How beneficial is the merger of Banks?
- Make in India: The idea will make India a manufacturing hub
- Bank Recapitalization: NPA reduction and not bank recapitalization can cure the health of PSBs in India
- Beti Bachao Beti Padhao: Will it abolish the orthodox mindset?