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- President of India approved IIM Bill 2017 on December 31, 2017, as a New Year's gift for the institutes.
- The Bill will enable IIMs to enjoy complete autonomy, as well as, award degrees to students instead of diplomas.
On December 31, 2017, IIM Bill 2017 got approval from the President of India, Mr. Ram Nath Kovind. The Bill was approved by Union Cabinet, Lok Sabha (July 2017) and Rajya Sabha (December 19, 2017). The Bill was later sent to President of India for his approval. It is a New Year gift to the premier management institutes as these institutes are empowered to award degrees instead of diplomas.
From now, the role of government will be restricted in the functioning of IIMs. The premier management institutes will have complete autonomy on administrative and financial matters. Similarly, IIMs can appoint faculty members and directors independently without government’s role. IIMs will have complete freedom to decide the curriculum and syllabus. With the implementation of the Bill, IIMs can decide how to manage and run these premier institutes.
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Autonomy to IIMs will enable them to focus on improving quality education and research. IIMs can enrol international students and invite international faculty members to associate with IIMs. Through these initiatives, IIMs can improve their global rankings. Usually, the global rankings of institutes depend on the quality of research, education and the total number of international students & faculties participating at the institute.
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As revealed by HRD Minister, Mr. Prakash Javadekar, the government will give autonomy to top performing higher learning institutes in the country. These institutes will be divided into over four categories. The institutes in top category will enjoy more autonomy, while the institutes in the lower category will have less autonomy with more regulations.
