The Indian Institutes of Management Bill, 2017 is tabled today in the Lok Sabha. The Bill, which will provide these premier institutions the power to grant degrees, is recently cleared by the union cabinet headed by Prime Minister Narendra Modi.
Among the major provisions of the draft Indian Institute of Management Bill, 2017, is one which grants powers to the IIM Board of Governors to get an inquiry conducted by a 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.
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It is also understood that as per the proposed draft, the Boards of Governors of IIMs would evaluate the performance of the institutes after every few years.
Under the Bill, the institutes would also be declared as ‘Institutions of National Importance’. It mandates that the institutions will be run by their Boards which is also slated to see more participation from alumni, experts from various domains and the inclusion of women and members from Scheduled Castes/Tribes(SC/ST) in the Board.
Periodic review of the institutions will be done by independent agencies and the results will be placed in public domain and annual reports will be audited by CAG (Comptroller & Auditor General) under the provisions of the new Bill and a Coordination Forum that will play the role of an advisory body of IIMs has been proposed in the Bill.