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Parliament gives nod to IIM bill
Context
Parliament on Tuesday unanimously passed a Bill to grant the Indian Institutes of Management the power to grant degrees instead of post-graduate diplomas.
The Bill features
- As per the IIM Bill, 2017, a Board of Governors will appoint the Director of each IIM.
- The Bill also allows students to acquire doctoral degrees from the IIMs.
- The Bill, passed by the LokSabha earlier, was passed by the RajyaSabha on Tuesday.
Doctoral degrees
- Earlier, fellowships of the IIMs were not regarded as Ph.D.s, which led students to complete their diplomas and go abroad if they wanted to earn a doctoral degree.
- The hope is that the passage of this Bill will pave the way for more research at these prestigious institutions.
- The Bill also confers on the 20 IIMs the status of institutions of national importance, granting them greater functional autonomy by restricting the role of the government in them.
- Till now, the Centre had a role in the appointment of the chairpersons and directors to their Boards and also fixing the pay of the directors.
- As per the IIM Bill, 2017, a Board of Governors will appoint the Director of each IIM.
- A search-cum-selection-committee will recommend the names. And the director will be eligible for variable pay as determined by the Board
