CHENNAI: The Assembly on Wednesday passed a Bill to recognise the Madras School of Economics (MSE), headed by former RBI Governor C Rangarajan as an institute of special importance and to enable the institute to award its own degrees and diploma.
The Bill was introduced by Deputy CM O Panneerselvam and passed by a voice vote. The Bill said the MSE set in 1933, has grown in stature as one of the most prestigious institutions for advanced study in economics and its allied subjects and management in India.
However, it is not empowered to award degrees and diplomas and is constrained to seek affiliation of different universities which affects its autonomous and effective functioning. The government is desirous of obtaining policy advice on matters relating to its public finances and hence endeavours to support the MSE to establish a Centre for Public Finance for conducting research in public finance, provide policy advice to the government and also run academic courses.