Indian Institutes of Management Amendment Bill 2023: The Rajya Sabha approved the Indian Institutes of Management (Amendment) Bill, 2023, following the Lok Sabha. The 2017 Indian Institutes of Management Act is modified by the new legislation. The Lok Sabha passed the Indian Institutes of Management (Amendment) Bill, 2023 on August 4 after it was first introduced on July 28. Union Education Minister Dharmendra Pradhan was quoted as saying in the house last week that the bill had no purpose of interfering with the autonomy of the IIMs amid disturbances over it by news agency PTI. The education minister was also quoted as suggesting that the President of India would continue to be responsible for IIM management.
Bill’s Pathway to Becoming Law Nears Completion
The measure has been approved by both chambers of parliament and is now on its way to Droupadi Murmu, the president of India. The law will become an act once the president gives his approval. The bill seeks to designate the president as the visitor to all Indian Institutes of Management with the authority to audit their operations, order investigations, and appoint as well as dismiss directors. The bill is intended to amend the Indian Institutes of Management Act, 2017.
Bill Grants Visitor Authority to Scrutinize IIMs’ Progress
“The Visitor may appoint one or more persons to review the work and progress of any institute, to hold enquiries into affairs thereof, and to report in such manner as the Visitor may direct. The board may also recommend to the Visitor an enquiry as deemed proper against the institute which has not been functioning in accordance with provisions and objectives of the Act,” PTI quoted the bill as stating. The bill also suggests designating the Visitor’s nomination for the search-cum-selection panel for the appointment of Directors of IIMs as well as all 20 IIMs as “Institutions of National Importance.” According to the Indian Institutes of Management Act, 2017, each IIM’s board of governors is made up of 19 members, two of whom are each appointed by the state and federal governments, while the remaining 17 come from among the faculty, alumni, and distinguished individuals.The search panel for the appointment of Directors and chairpersons is also chosen by the board, and the search panel’s recommendations are taken into consideration when making appointments.
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