The Union Cabinet on 24 June 2015 approved setting up of six new Indian Institutes of Management (IIMs) in the country. The cabinet meet was chaired by Prime Minister Narendra Modi.
These new IIMs will be located at Amritsar (Punjab), Bodh Gaya (Bihar), Nagpur (Maharashtra), Sambalpur (Odisha), Sirmaur (Himachal Pradesh) and Vishakhapatnam (Andhra Pradesh).
These IIMs are intended to commence their first academic session from 2015-16. Each Institute will start with an intake of 140 students in the Post Graduate Programme (PGP) courses.
These IIMs are being set up as part commitment made by the Union Government in its Budget presentation of July 2014. In the July 2014 Budget, it was proposed to set up five IIMs in Bihar, Himachal Pradesh, Maharashtra, Odisha and Punjab.
With the bifurcation of erstwhile Andhra Pradesh state into two States of Andhra Pradesh and Telangana the need for setting up of an IIM in Andhra Pradesh in pursuance of the Andhra Pradesh Re-organization Act, 2014 was necessitated.
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