IIM Bill Turned As Law - Beneficial For Students and Institutes
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IIM Bill Turned As Law – Beneficial For Students and Institutes

With the IIM Bill 2017, receives Presidential assent and becoming an Act, the Indian Institutes of Management (IIMs) in the country have got more autonomy in their functioning and got power to award degrees instead of diplomas to their graduates. Now, the government would have restricted role in their functioning.

IIMs have initiated the process of mutual consultation to arrive at a consensus on common regulations to adopt. The struggle for autonomy has been going on within the Indian Institutes of Management (IIMs) from inception.

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Initially, this was addressed by just staying away from the main system and awarding Post-Graduate Diplomas in Business Management (PGDM). Registered as societies and not coming under the purview of any of the controlling institutions like the University Grants Commission (UGC) or the All India Council for Technical Education ( AICTE) helped in this process.

The pull and push from the Ministry of Human Resources Development (MHRD) were to bring it comprehensively under its umbrella, especially in the first IIM Bill draft brought in by the then minister. However, an about-turn happened with Prakash Javadekar taking over as HRD Minister. He and the Prime Minister’s Office ensured a draft Bill that had “autonomy” at its centre.

The Indian Institutes of Management, IIM Bill, 2017, stands passed by both houses of Parliament as on December 19, 2017. The Bill witnessed unanimous support across the political spectrum. It is the element of “increased autonomy” that swung the majority opinion in its favor. The Bill recognizes IIMs as Institutions of National Importance and aims to provide them an independent statutory status to ensure uniform governance. And, yes, the IIMs will be able to award an MBA degree.

READ Too: What Do Business Schools Look For In MBA Applicants?

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The Indian Institutes of Management (IIMs) in the country have got more autonomy in their functioning with restricted government’s role in their functioning and power to award degrees instead of diplomas to their graduates, according to a new law. President Ram Nath Kovind has given assent to the Indian Institutes of Management Bill, 2017, yesterday, and it has now become a law. The new law — which was passed in the Lok Sabha in July 2017 and by Rajya Sabha on December 19 — grants statutory powers to the IIMs in their running, including the appointment of directors and faculty members.

Benefits Through IIM Bill /Law

IIM students of 2016-18 and 2017-19 batches have all the reasons to rejoice as the winter season of parliament has seen award of full autonomy to IIMs to make their presence felt global by opening campuses abroad & has brought a major change in the award of MBA degree instead of diploma by the IIMs to the students for their flagship courses.

Ten thousand students of 2016-18 and 2017-19 batch of all the 20 IIMs would now be awarded MBA degree instead of postgraduate diploma in management ( PGDM) or PGPM. The next batches taking admission from 2018 onwards in IIMs will also be conferred MBA degree instead of diploma after completion of the postgraduate program.

  • Hindrance Removed in Higher Studies Abroad

Students of IIM Ahmedabad, Calcutta, Bangalore, Lucknow and all other IIMs are given diploma instead of MBA degree. An additional certificate is to be attached by IIM students when they go for higher studies abroad that the diploma awarded by IIMs is equivalent to MBA degree. IIM Bill 2017 has removed this anomaly. Now the IIM students will be awarded MBA degree which is accepted globally by all the top universities across the world.

READ ALSO: Swachhta Ranking 2017 Award For Higher Education Institutions

  • Paves way for Placement in Global Companies 

Getting international recruitment with a diploma awarded by IIMs needed certain additional formalities. With the MBA degree from IIMs, students will get the opportunity to get the placement with top Global recruiters who prefer MBAs to PGDM.

  • Enabling the Boards with More Power and Responsibilities

The Act seeks to entrust the board of governors with greater power. A board will have full sovereignty to appoint the Chairperson and the Director of an institute, a decision currently taken by the Appointment Committee of the Cabinet chaired by the Prime Minister.

`It will have to, through an independent agency or group of experts, review the performance of the institute — including the faculty — within three years from the date of incorporation, and thereafter at least once every three years, against parameters of long-term strategy and rolling plans of the institution.

The Act will enable IIMs to provide high-quality management education and promote allied areas of knowledge as well as interdisciplinary studies.

In the present educational ecosystem, the next challenge would be knowledge generation for India by Indians. Investment in infrastructure and human capital to encourage research and development is essential to steer our technical education in the right direction. Keeping ahead in this global race is crucial for India strategically as also to solve the burden of poverty and disease in the long run.

ALSO READ: Technology Reshaping MBA Recruitment Process

This is truly the first significant reform in the higher education space that the NDA Government has ushered in with the full and unstinting support of all the parties represented in Parliament. It is a fine example of bipartisanship. Now the ball is in the court of the IIMs to use this as a pivot to attain the glorious heights the nation expects of them.

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