Question : Bill to Regulate IIMs

(a) whether the Government proposes to bring forward a bill to regulate Indian Institutes of Management (IIMs) in the country;

(b) if so, the details thereof including the salient features of the proposed bill and the reasons therefor;

(c) whether the Government has circulated draft bill to all the stake holders and if so, the details thereof and the reaction of the stake holders thereto;

(d) whether key provisions of the said bill were objected by the Directors of IIMs; and

(e) if so, the details thereof including the suggestions received by the Government on the key proposals of the bills and the time by which the bill is likely to be introduced?

MINISTER OF HUMAN RESOURCE DEVELOPMENT
(SMT. SMRITI ZUBIN IRANI)

(a) & (b) : The draft Indian Institutes of Management (IIMs) Bill intends to grant statutory status to Indian Institutes of Management to enable them to grant degrees to their students in the academic courses conducted by these institutes. The IIMs as premier institutions nurture world-class high skilled manpower and quality professionals in the areas of consulting, finance, marketing and human resource for various industries in the manufacturing and service sectors besides contributing to the development of an ecosystem which boosts the economic growth of the country. However, these institutions could award only Certificate, Post Graduate Diploma and Fellowship, which lacked universal acceptability in the field of academia and research. The Bill intends to ensure greater synergy and functional autonomy along with commensurate accountability in academic and financial matters of the IIMs.

(c) to (e): The opinions and suggestions of the stakeholders including the IIMs on the draft IIM Bill have been received. After consideration of all the opinions and suggestions, a decision will be taken by the Central Government.

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