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By Way2k Way2k
Way2k 4 Sep 2012
Law to enable IIMs award degrees

Five years after it first initiated a legislation to bring 13 premier Indian Institutes of Management (IIMs) under the purview of Parliament, the HRD ministry has revived the process and is working on a bill modeled on the lines of the Institutes of Technology Act, 1961, under which IITs function.

Law to enable IIMs award degrees
In 2007, the provocation for proposing legislation for IIMs was the institutes’ recalcitrance in implementing the OBC reservation. However, this time round, the idea has come from within. Many IIM directors and board members have been telling the ministry that without a legislative cover, IIMs are not able to award degrees. It has become a handicap. Many IIMs have started five year integrated courses but are not eligible to award degrees. Once the proposed Institutes of Management Bill is passed, IIMs would become more attractive for students, a source said.
Now, IIMs function as autonomous societies and run as per their Memorandum of Association (MoA) that is different in case of each institute. IIMs award only diploma for a two year management course. Degrees can be awarded only by institutions set up by an act of Parliament, state assembly, deemed universities and institutes of national importance.
Director of one of the new IIMs told TOI, At a time when serious changes are being contemplated in the Common Aptitude Test like making it an international test, IIMs need to have authority to grant degrees. Recently, the ministry discussed the matter with us. Once bill is prepared by the ministry we would be consulted. But some feel parliamentary control could also compromise IIMs autonomy and out-of-box decisions. First, there would be change in the administrative and financial powers of the institutes. Over the last three years, government had set up many committees to look into the functioning of IIMs as well as chalk out a roadmap. Most of the old IIMs have already amended their Memorandum of Association that gives them more power and flexibility. We do not know what would happen to flexibility and financial autonomy, one IIM director said.
Three IIMs Ahmedabad, Bangalore and Kolkata no longer depend on government for fund but once the proposed bill is passed each IIM would have to maintain a fund in which money provided by the Central government, all fees and other charges received by the institute, money received by way of grants, gifts, donations, benefactions, bequests or transfers and money received by the institute in any other manner or from any other source would be kept. Even investments would need government approval and their accounts would be audited by the Comptroller and Auditor General.


The Institutes of Management Bill will help IIMs award degrees to students Once they come under the purview of Parliament IIMs might lose their administrative and financial powers IIM accounts will have to be audited by CAG Each IIM will have to maintain a fund in which money provided by the central government, all fees and other charges received by the institute would be kept Investments would need government approval


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