Government Clearance over Setting up of 6 New IIMs

From the next academic session, six of the new IIMs which were proposed earlier, could start functioning their academic activities as the Government has cleared the proposal. This would bring joy to the MBA aspirants in the country as there would be increased opportunities for the candidates to get through to these coveted institutes.

The six new IIMs would be situated at Visakhapatnam (Andhra Pradesh), Bodh Gaya (Bihar), Simaur (Himachal Pradesh), Nagpur (Maharasthra), Sambalpur (Odisha) and Amritsar (Punjab). These new institutes would start with taking 140 students for the post-graduate course offered by IIMs. This is the flagship programme offered by the IIMs, selections of which are made though CAT exams every year.

According to the release which the government made public after the Union Cabinet gave their nod to the proposal, “It is expected that the annual intake will increase to reach a level of 560 students by the end of seven years.”

Finance Minister Arun Jaitley in his last year budget speech had announced about the proposal for setting up of five new IIMs in the nation. In keeping with the AP Re-organization Act, 2014, another IIM was proposed by the Andhra Pradesh government, making the number rise to six. The demand for one such institute was also on the rise for the western Odisha region. Hence, the government decided to establish one IIM at Sambalpur, Odisha for the betterment of the students in the state. Initially it was planned that the campus would come up in the state capital Bhubaneswar, but due to the raising demands from the western Odisha region the government had to alter its decision. It was decided by the HRD ministry that the existing IIMs would mentor the newly formed institutes.

Important Points

• 6 IIMs to come up from next academic year
• These new institutes would start with taking 140 students for the post-graduate course offered by IIMs
• The 6^th IIM will be set up at Sambalpur, Odisha