NEW DELHI: Govt on Monday introduced Indian Institutes of Management (Amendment) Bill, 2025, in Lok Sabha to include IIM-Guwahati in the schedule of IIM Act, 2017, thereby conferring on it the status of an institution of national importance.
The proposed law stems from a Memorandum of Settlement signed by Centre, Assam govt and representatives of Ulfa for the state's all-round development. Education minister Dharmendra Pradhan moved the bill amid opposition protests over SIR of electoral rolls in Bihar.
The amendment provides that from its commencement, "all provisions of this Act shall apply to IIM-Guwahati". Until a formal board is constituted, all powers will vest in a person or body appointed by Centre.
The bill also makes financial commitments, with the institute to receive a corpus fund of Rs 555 crore for five years (2025-26 to 2029-30). Govt expects that by the end of such period, IIM-Guwahati "shall be generating enough revenue through its own internal accruals".
The proposed law stems from a Memorandum of Settlement signed by Centre, Assam govt and representatives of Ulfa for the state's all-round development. Education minister Dharmendra Pradhan moved the bill amid opposition protests over SIR of electoral rolls in Bihar.
The amendment provides that from its commencement, "all provisions of this Act shall apply to IIM-Guwahati". Until a formal board is constituted, all powers will vest in a person or body appointed by Centre.
The bill also makes financial commitments, with the institute to receive a corpus fund of Rs 555 crore for five years (2025-26 to 2029-30). Govt expects that by the end of such period, IIM-Guwahati "shall be generating enough revenue through its own internal accruals".
You may also like
'Engulfed in smoke': Cargo ship burst in flames near Baltimore's Key bridge; eyewitness recall loud sound heard before fire
Defiance in Birmingham as man paints England St George's cross over mini-roundabouts
House Cleaning Hacks: What to do if termites are slowly eating your house, and how to get rid of them?
Gary Neville and Jamie Carragher at odds on Sky Sports over Arsenal's Viktor Gyokeres
Donald Trump dealt devastating WW3 blow on BBC Breakfast: 'This will end badly'
