New Delhi: Ministry of Human Resource Department (HRD Ministry) has finally given its consent in order to grant autonomy for old Indian Institute of Management (IIMs). The information was given by the Minister of State for Human Resource Development D. Purandeswari, in a written reply to a question, during a Rajya Sabha session, recently.
According to the sources, in the session, the Ministry agreed to the principle that older IIMs like Ahmedabad, Bangalore and Calcutta, which do not take non-plan grants would be given the powers to create posts within approved norms and to open centers in India as well as in abroad.
In addition, they will be able to amend rules within the overall frame work of Memorandum of Association and Rules. Also, they will able to approve their own budget, to manage the own funds generated by Institute in the course of time from fees/donations/grants by individuals institutions and organizations in India and abroad.
Furthermore, some more points added to the responsibilities for older IIMs are:
- Industry, Association, Foundations and Trusts;
- Alumni, faculty, staff, students and well-wishers of the Institute;
- Govt. of India and State Govt. as outright, or matching grants;
- Savings from the annual grants and receipts of the Institute;
- Unclaimed securities, royalties, gifts etc; and
- Any other kind of donation, contribution etc.
