Rajya Sabha passes bill granting President authority over IIM Management

In a significant development, the Parliament has passed a crucial bill designating the President as the power responsible for the organisation of the Indian Institutes of Management (IIMs).

Under this new arrangement, the President will hold the position of the Visitor for these esteemed business schools, thereby possessing the authority to conduct audits of their operations and make appointments or removals of directors.

The Indian Institutes of Management (Amendment) Bill, 2023, was successfully passed by the Rajya Sabha through a voice vote. The primary objective of this legislation is to enhance the governance and supervisory mechanisms governing these prestigious institutes, all the while safeguarding their academic independence.

During a discussion in the Rajya Sabha concerning the bill, Education Minister Dharmendra Pradhan highlighted that the government’s intention is not to infringe upon the academic responsibility of the institutes.

Clarifying the purpose of the bill, Pradhan also brought attention to the fact that the Centre has made a significant investment of over Rs 6,000 crore in the establishment of the IIMs.