Union Cabinet approves establishment of six new IIMs

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday gave its approval for setting up of six new branches of the Indian Institute of Management (IIM).

These new IIMs will be located at Vishakhapatnam, Bodh Gaya (Bihar), Sirmaur (Himachal Pradesh), Nagpur, Sambalpur (Odisha) and Amritsar.

These IIMs will begin functioning from assigned temporary campuses and shift to their permanent sites after the construction of the same, with the intention that these new institutes commence their first academic session from 2015-16.

Each institute will start with an intake of 140 students in the post graduate programme (PGP) courses. It is expected that the annual intake will increase to reach a level of 560 students each year by the end of seven years.

Union Finance Minister Arun Jaitley in July 2014 had in his Budget speech committed to establish five new IIMs in Bihar, Himachal Pradesh, Maharashtra, Odisha and Punjab.