Approval for seven new IIMs

Updated on: Saturday, August 29, 2009

New Delhi: The Union Cabinet today approved the proposal for setting up of seven new Indian Institutes of Management (IIMs) in Tami Nadu, Jharkhand, Chhattisgarh, Haryana, Jammu & Kashmir, Uttarakhand and Rajasthan.

In the first phase, four IIMs at Tiruchirappalli (Tamil Nadu), Ranchi (Jharkhand), Raipur (Chhattisgarh) and Rohtak (Haryana) will be setup in 2009-10, which would become functional from academic session 2010-11.

Postgraduate Programme (PGP) in Management would be the flagship programme though in the first year several executive programmes including those in the public policy domain focusing on civic and municipal services etc. would be started.

In the second phase, the rest of 3 IIMs will be set up in Jammu & Kashmir, Uttarakhand and Rajasthan in 2010-11. In phase-I, there would be an intake of 140 students in the PGP course & by the end of phase-II, it would reach 560 students per year.

Admission shall be through the Common Admission Test (CAT).

The institutes would also contribute to generation of a highly competent and trained manpower which would be a major catalyst for developing a knowledge society that would inevitably impact on the economic growth of the country.

Apart from this, research in management and emerging areas would evolve a potential for generating significant intellectual properties that would generate sizeable revenue.

The Cabinet has also approved an outlay of Rs.451 crores (Rs.333.00 crores for non-recurring expenditure and Rs.118 crores for recurring expenditure) in the XI FYP and XII FYP for each IIM. The projected outlay for XI Five Year Plan for each of the 4 IIMs to be established during 2009-10 is Rs.166 crores (Rs.135 crores for non-recurring expenditure and Rs.31 crores for recurring expenditure).

For the remaining three IIMs to be set up during 2010-11, the requirement for XI Plan would be Rs.131 crores each (Rs.107 crores non-recurring and Rs.24 crores recurring expenditure). The total requirement of funds for establishment of seven new IIMs during XI Plan works out to Rs.1057 crores.

Locations of IIMs in Jammu & Kashmir, Uttarakhand and Rajasthan are yet to be decided.

The XI Five Year Plan endorsed by the National Development Council (NDC) in December 2007, envisaged, inter-alia, establishment of seven new IIMs in the country, out of which one IIM namely Rajiv Gandhi Indian Institute of Management (RGIIM), Shillong has already been established in Shillong (Meghalaya) commencing its first academic session from 2008-2009 and the remaining six IIMs will be set up in the Tamil Nadu, Jharkhand, Chhattisgarh, Haryana, Jammu & Kashmir and Uttarakhand.

In addition, an IIM is also to be set up in the state of Rajasthan in view of the Finance Minister's Budget announcement on February 25, 2009.

Approval for seven new IIMs

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