NEW DELHI: The passing of the Indian Institute of Management Bill 2017 by Parliament on Tuesday has paved the way for the commencement of undergraduate courses in management and liberate arts, apart from post-graduate degree courses, at all premier B-schools in the country.
At present, only IIM-Indore offers a five-year course in management while all other IIMs offer post-graduate diploma courses in business management and other short-duration courses in leadership, strategy and business planning.
The new Bill will allow these institutes to start undergraduate courses with the approval of the All India Institute of Technical Education.
“Though IIMs are the top B-schools in the country, we have only been awarding diplomas and not degrees as IIMs were neither governed by the UGC nor were they guided by any Act of Parliament,” said a senior executive with IIM-Calcutta.
The IIM Bill, planned during the UPA regime, was cleared by the Cabinet in January this year.