Lok Sabha passes IIM Amendment Bill, grants President management powers

In a significant move, the Lok Sabha has passed the Indian Institutes of Management (Amendment) Bill, 2023, entrusting the management accountability of the IIMs with the President of India.

The Bill aims to strengthen the governance and oversight of these prestigious institutions while preserving their academic autonomy.

The Bill grants the President the role of Visitor to the Indian Institutes of Management, bestowing upon the office powers to audit their functioning, order investigations, and appoint or remove



directors.

This move is seen as a means to enhance the transparency and efficiency of the management of IIMs.

Education Minister Dharmendra Pradhan, while piloting the Bill in the Lok Sabha, clarified that the government's intention is not to interfere with the academic autonomy of the IIMs. Instead, the Bill focuses on holding the institutions accountable for their management aspects.

The Centre has invested substantial funds, amounting to over Rs 6,000 crore, in the establishment of IIMs, making it crucial to ensure effective governance.