The Lok Sabha on Friday passed the Indian Institute of Management (IIM) Bill, aiming to give 20 IIMs more autonomy and reducing the scope for government interference.
The IIMs would, when the Bill passes the Rajya Sabha, too, and then get Presidential assent, become institutes of national importance and given the authority to grant degrees, on the lines of Indian Institutes of Technology (IITs). Currently, the IIMs are bodies registered under the Societies Act and not authorised to award degrees. They were awarding a postgraduate diploma and fellow programmes in management. These were treated as equivalent to MBAs and PhDs, respectively;
